manx-person Posted August 22, 2009 Share Posted August 22, 2009 Is that your personal view or your view as a moderator. And I care actually, so your photo is incorrect. Link to comment Share on other sites More sharing options...
gazza Posted August 22, 2009 Share Posted August 22, 2009 Is that your personal view or your view as a moderator. does it matter Link to comment Share on other sites More sharing options...
ans Posted August 22, 2009 Share Posted August 22, 2009 And I care actually, so your photo is incorrect. You must be the one taking the picture then. Link to comment Share on other sites More sharing options...
jimbms Posted August 23, 2009 Share Posted August 23, 2009 Well that make 3 as I for one would not occupy a seat Link to comment Share on other sites More sharing options...
nipper Posted August 23, 2009 Author Share Posted August 23, 2009 I care too, very much so, and would like to have a seat please. Link to comment Share on other sites More sharing options...
bellyup Posted August 23, 2009 Share Posted August 23, 2009 I care so save one for me. Link to comment Share on other sites More sharing options...
manx-person Posted August 23, 2009 Share Posted August 23, 2009 No doubt they have suffered from the confused financial regulation system in the UK which seems to reflect 'all care and no responsibility'. Hopefully this is in the process of being cleaned up. They must take their share of the blame for the current mess. If the FSA cannot regulate properly then what is it good is it? To answer these essentially identical arguments at once; this is somewhat akin to saying "If the Ministry of Justice can't stop crimes what good is it?" Perhaps the next time there is some vandalism in Onchan the local neighbourhood policing team should be hauled over the coals and 'take their share of the blame.' Consider the complexity of the global financial system (bearing in mind that it was some time before Bellyup accepted that banking did not equal financial services). It is completely unrealistic to expect the FSA to prevent bad things happening by monitoring the system in direct and perscriptive manner, not least when you consider the amount of related business passing through other jurisdictions to their own. It is bizarre, backwards, fantasy-statist thinking to believe that a Governmental organisation can be expected to prevent people who are not adequately in control or are operating their business on incorrect assumptions about the economy from making mistakes. Not a bad analogy, but the MoJ could be criticised - for example - if it didn't effectively deploy the resources that it was responsible for, and flowing from that failure they was a major public order/crime issue. Link to comment Share on other sites More sharing options...
manx-person Posted August 23, 2009 Share Posted August 23, 2009 Rest assured the disinterested people will not post then; in fact thats the benefit of a descriptive thread title. Link to comment Share on other sites More sharing options...
manx-person Posted August 23, 2009 Share Posted August 23, 2009 I have just seen the latest update on the payout which is obviously better news for the creditors and for the IOMG ( who are creditors also) 20 August 09 The Joint Liquidators will shortly be paying the first distribution to unsecured creditors. Based on cash currently in hand, the first distribution would be 22.1 pence in the pound. However, during the course of the next two weeks, further material receipts of cash are expected which, if received, would increase the distribution further. In order to ensure that the first distribution is as large as possible, it has been agreed with the Committee of Inspection that the distribution will be paid on Friday 4 September 2009. Good point Bellyup - people forget that the IOMG had deposited (both directly and by its investment manager) Circa £10M So high recoveries would be good news for the IoM taxpayer. Link to comment Share on other sites More sharing options...
bellyup Posted August 24, 2009 Share Posted August 24, 2009 No doubt they have suffered from the confused financial regulation system in the UK which seems to reflect 'all care and no responsibility'. Hopefully this is in the process of being cleaned up. They must take their share of the blame for the current mess. If the FSA cannot regulate properly then what is it good is it? To answer these essentially identical arguments at once; this is somewhat akin to saying "If the Ministry of Justice can't stop crimes what good is it?" Perhaps the next time there is some vandalism in Onchan the local neighbourhood policing team should be hauled over the coals and 'take their share of the blame.' We are not talking a spot of vandalism in Onchan we are taking about the collapse of a bank causing devastation to the lives of thousands of people. Although if the local boys in blue were sitting watching match of the day and eating donuts while the neighborhood watch were warning them what was going on there would certainly be a case. The Manx radio shows up the antics of the Directors of Kaupthing hf one of whom has written a book ( which I trust no one but the fraud authorities will buy) http://www.manxradio.com/newsread.aspx?id=38205 Link to comment Share on other sites More sharing options...
Newsbot Posted August 25, 2009 Share Posted August 25, 2009 Payments for depositors in a failed Manx bank will be made in September - 11 months on from its collapse. Source : http://news.bbc.co.uk/go/rss/-/1/hi/world/...man/8220800.stm Link to comment Share on other sites More sharing options...
bluemonday Posted August 25, 2009 Share Posted August 25, 2009 11 months. How long would it have taken were it in the UK as a solely UK bank? Link to comment Share on other sites More sharing options...
thebees Posted August 25, 2009 Share Posted August 25, 2009 Thats really very good. So, if you had upto £50k you will get all your savings back and if you had more you will get some but not all back? (eventually) Link to comment Share on other sites More sharing options...
bellyup Posted August 26, 2009 Share Posted August 26, 2009 I have just seen the latest update on the payout which is obviously better news for the creditors and for the IOMG ( who are creditors also) 20 August 09 The Joint Liquidators will shortly be paying the first distribution to unsecured creditors. Based on cash currently in hand, the first distribution would be 22.1 pence in the pound. However, during the course of the next two weeks, further material receipts of cash are expected which, if received, would increase the distribution further. In order to ensure that the first distribution is as large as possible, it has been agreed with the Committee of Inspection that the distribution will be paid on Friday 4 September 2009. Good point Bellyup - people forget that the IOMG had deposited (both directly and by its investment manager) Circa £10M So high recoveries would be good news for the IoM taxpayer. It looks like the DCS payments will not be made until the scheme administrators get their hands on the dividend payments due to claimants ( ie sometime after 4 September). Link to comment Share on other sites More sharing options...
bellyup Posted August 26, 2009 Share Posted August 26, 2009 11 months. How long would it have taken were it in the UK as a solely UK bank? About two weeks ( time it took Kaupthing Edge depositors to be fully repaid) However this was slightly different in that HMG paid ING to take them over. Link to comment Share on other sites More sharing options...
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