TheBloodyNine Posted August 19, 2009 Share Posted August 19, 2009 How can they possiably carry out their due diligance in 5 minutes? Or is that not important when banks are handing out money? Link to comment Share on other sites More sharing options...
bellyup Posted August 19, 2009 Share Posted August 19, 2009 These are DEPOSITORS Fubar .They wont have loans or overdrafts. Either way, you're living in cloud cuckoo land if you think each claim will only take 5 minutes to process. There will be several checks to me made and I'm not talking about the ones that you will be getting from the manx taxpayer. Please enlighten me as to what checks? After all this has been going on for 10 months and its now nearly two months from the official liquidation date. There has been ample time now and there is so i understand 200million held by PWC. ( that is nothing to do with the manx taxpayer) Link to comment Share on other sites More sharing options...
La_Dolce_Vita Posted August 19, 2009 Share Posted August 19, 2009 I feel sorry for you - not because you lost money but because of how important that money obviously is to you. What price good health, family and friends? Step back and take stock of your real wealth: after all, it's only money. Do you that is ENTIRELY fair though. Money faciliates so many aspects of our lives. When it all boils down it, it shouldn't be possible for something like to happen. I don't think I would be shrugging my shoulders and saying 'Oh well, that's how our economy works'. Link to comment Share on other sites More sharing options...
bellyup Posted August 19, 2009 Share Posted August 19, 2009 How can they possiably carry out their due diligance in 5 minutes? Or is that not important when banks are handing out money? It wasnt important when they took in it and reassured depositors with false guarantees. PLease bear in mind they are not 'handing money 'out they are RETURNING TO PEOPLE THEIR OWN MONEY that was deposited in good faith. Link to comment Share on other sites More sharing options...
TheBloodyNine Posted August 19, 2009 Share Posted August 19, 2009 Yes but if they dont do the proper checks then whats to stop any one making a false claim? 5 minutes is fine if they are just handing back the cash, doing it properly takes time. I thought there had already been false claims made? Link to comment Share on other sites More sharing options...
fubar Posted August 19, 2009 Share Posted August 19, 2009 These are DEPOSITORS Fubar .They wont have loans or overdrafts. Either way, you're living in cloud cuckoo land if you think each claim will only take 5 minutes to process. There will be several checks to me made and I'm not talking about the ones that you will be getting from the manx taxpayer. Please enlighten me what checks? After all this has been going on for 10 months and its now nearly two months from the official liquidation date. There has been ample time now and there is so i understand 200million held by PWC. ( nothing to do with the manx taxpayer) Why don't you ask the people dealing with it. I couldn't give a toss other than the fact your whining is becoming irritating and your attacks on all things Manx are quite distasteful. Nothing to do with the Manx Taxpayer! Who funds the DCS? Link to comment Share on other sites More sharing options...
bellyup Posted August 19, 2009 Share Posted August 19, 2009 Yes but if they dont do the proper checks then whats to stop any one making a false claim? 5 minutes is fine if they are just handing back the cash, doing it properly takes time. I thought there had already been false claims made? I have not heard this where did you get your information? The bank has all the statements and accounts on computers. They know exactly how much people have deposited. In the case of those applying for the DSC the amount is up to 50k . So if you have 35k on deposit you will get all your money back this doesnt sound like a super complicated procedure to me. Link to comment Share on other sites More sharing options...
TheBloodyNine Posted August 19, 2009 Share Posted August 19, 2009 I cant remember where I read it, and it could have been about another bank to be honest, it was not long after the whole thing started. Not super complicated no, but for example if I were to find out your details and ask for your money back you want them to just give it to me? it would take longer than 5 minutes to make sure I am not who I claim to be. Link to comment Share on other sites More sharing options...
bellyup Posted August 19, 2009 Share Posted August 19, 2009 These are DEPOSITORS Fubar .They wont have loans or overdrafts. Either way, you're living in cloud cuckoo land if you think each claim will only take 5 minutes to process. There will be several checks to me made and I'm not talking about the ones that you will be getting from the manx taxpayer. Please enlighten me what checks? After all this has been going on for 10 months and its now nearly two months from the official liquidation date. There has been ample time now and there is so i understand 200million held by PWC. ( nothing to do with the manx taxpayer) Nothing to do with the Manx Taxpayer! Who funds the DCS? Previously the banks were supposed to But therein lies the catch it is underfunded/unfunded and the Regulator upped it to 50k without it appears consulting with the banks - some banking guru will put me right im sure on this point. Therefore the IOMG has taken a loan to facilitate /expedite the process ( inasmuch as the whole affair has dragged on for 10 months and will damage the reputation of the IOM Financial industry.) The manx taxpayer has yet to pay anything at all. There are considerable assets ( 200m) in the bank and the IOMG will get paid out the same as the other depositors a large chunk of the loan will come back to them at the same time as they pay out. As the IOM has considerable reserves there will be in fact hardly any noticeable impact on the Manx taxpayer. As many people are employed in the Financial industry it behooves the IOMG to protect its reputation (and their jobs) as a safe and secure financial centre Link to comment Share on other sites More sharing options...
Whimsy Posted August 19, 2009 Share Posted August 19, 2009 The manx taxpayer has yet to pay anything at all. Not true. Typical Bellyup inaccuracies. Millions has already been paid out by the TAXPAYER in the Early Payment Scheme. Millions. Link to comment Share on other sites More sharing options...
bellyup Posted August 19, 2009 Share Posted August 19, 2009 I cant remember where I read it, and it could have been about another bank to be honest, it was not long after the whole thing started. Not super complicated no, but for example if I were to find out your details and ask for your money back you want them to just give it to me? it would take longer than 5 minutes to make sure I am not who I claim to be. How would you find out my details? Its the same as asking for your money out of any bank. We are taking about a bank here and a staff of 35 that are employed and have been employed for the last 10 months solely to deal with this. If you had had all those details sat in front of you for the last 10 months I think that you would be a good position to do the work quickly and efficiently. These are bank staff and they are dealing with deposit accounts. They already hold all the relevant details of the depositors . There are very stringent laws when you open a bank account you must provide endless information , certified copied of your passports and references from other banks. All these are held by the bank. Link to comment Share on other sites More sharing options...
TheBloodyNine Posted August 19, 2009 Share Posted August 19, 2009 It was an example, I personaly couldnt get your details, but a half competant fraundster could, but it dosnt even have to be your details it could be the details of anyone of the other depositors. Its not likely but would you rather them be careful or quick? Link to comment Share on other sites More sharing options...
bellyup Posted August 19, 2009 Share Posted August 19, 2009 The manx taxpayer has yet to pay anything at all. Not true. Typical Bellyup inaccuracies. Millions has already been paid out by the TAXPAYER in the Early Payment Scheme. Millions. I think that you had better go back to the original post and read it. We are discussing the distribution of the banks assets from the bank to the depositors. ITS THEIR OWN MONEY that has been denied to them for 10 MONTHS and is held by the liquidators PWC. The EPS ( early payment scheme) was a payment which many people did not take ( I did not as i believed -wrongly- that this matter would have been speedily dealt with) the cost to the government was under 11k AS the IOM has in the region 300m in reserves this will not have made any impact on the taxpayers who have benefited for years from depositors using the IOM This was NOT a gift and nor was it EARLY It was made because the IOMG was aware it was delaying liquidation by promoting its SOA ( scheme of arrangement)and causing people hardship. The IOMG was standing in the shoes of the depositors and that means it is discounted from the DSC so when the IOMG pays out the DSC it will be less what they advanced to depositors in the EPS. Link to comment Share on other sites More sharing options...
Dr Gonzo Posted August 19, 2009 Share Posted August 19, 2009 The sooner we tighten up the Berk Permit system to get rid of the likes of you, the better. Link to comment Share on other sites More sharing options...
Whimsy Posted August 19, 2009 Share Posted August 19, 2009 Nothing to do with the Manx Taxpayer! Who funds the DCS? Previously the banks were supposed to But therein lies the catch it is underfunded/unfunded and the Regulator upped it to 50k without it appears consulting with the banks - some banking guru will put me right im sure on this point. Therefore the IOMG has taken a loan to facilitate /expedite the process ( inasmuch as the whole affair has dragged on for 10 months and will damage the reputation of the IOM Financial industry.) The manx taxpayer has yet to pay anything at all. There are considerable assets ( 200m) in the bank and the IOMG will get paid out the same as the other depositors a large chunk of the loan will come back to them at the same time as they pay out. As the IOM has considerable reserves there will be in fact hardly any noticeable impact on the Manx taxpayer. As many people are employed in the Financial industry it behooves the IOMG to protect its reputation (and their jobs) as a safe and secure financial centre OK, let's try again - with your whole post quoted - You clearly say "The manx taxpayer has yet to pay anything at all" The Manx Taxpayer has, months ago, paid millions in the Early Payment Schemes, initially £1000 each, and then upped to £10,000 each. So you were yet again inaccurate. And the government 'reserves' of £300 million you refer to (which you say won't have any effect on the Manx Taxpayer) - they represent about 8 months of running the DHSS - just one department. That's not much reserve for a whole nation if there were to be a real financial meltdown. As to "there will be in fact hardly any noticeable impact on the Manx taxpayer" - Allan Bell has stated on several occasions that even if everything goes swimmingly, there will be a loss to Government (and therefore taxpayers) of at least £30,000,000. Thirty Million. Link to comment Share on other sites More sharing options...
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