Don't Bank on the Isle of Man

Thousands of depositors have been deprived of their livelihoods. The Manx Government must do more to rectify the situation.

Category:

People & Blogs

Tags:

• Bank
• Isle
• Man
• Don't
• on
• the
• of
• Kaupthing
• Banking
• Offshore
• KSF
• Freedom
• to
• Flourish

[MysticFiction]

people put money in a bank to see it again ,no matter what. Its disgraceful to now be under the mercy of a liquidator..

[tonycavanna]

The next time there's a banking crisis many more islanders may be affected. The things that the IOM government can get away with now will be used as a precedent for the future. That includes stringing out depositors for years, holding up the compensation process as long as possible and temporarily raising the DCS from a grossly inadequate amount a very inadequate amount. These videos are to help people carry their due diligence as suggested by the IOM authorities.

[costedmn]

Prat

[costedmn]

British tax payers are helping to prop banks up which directly includes many on the island. They're effectively paying to keep Manx workers employed. Nice that Britain plunges itself into debt whilst the Manx govt avoids any debt at all. For once you can't hide with pride behind your horrible three legged swastika flag. I wasn't invested in KS&F but do live in the IoM. Telling people that have lost a lot of money to "get over it" is pathetic but a result of the ignorant Manx faux-patriotism.

[MrGreedyGutz]

If all you existed and worked for was to amass a small fortune that would then at its potential loss blacken your hearts into blindinng hatred of those you imagine tried to take it away then i am sorry to tell you that you have wasted your only opportunity to exist, laugh,smile & cry on this beautiful planet.

And thats a shame.

[MrGreedyGutz]

Then have the nerve to try to blame the IOM, i hope you all get all of your money back then i hope you realise that it is the very same money that has lead & twisted your very existence.

[MrGreedyGutz]

Your Banging your head against a wall trying to get through to people who will happily avoid paying tax in there own country & at the same time try to increase there savinngs by investing in a high interest bank that only Eskimoes had heard of.

[pepichloe]

Tracy. Your govt encourages persons to bank on the Isle & boasts of its regulatory standards (see its promotion video Freedom to Flourish). Through sheer incompetence the govt appointed FSC was instrumental in causing the bank's collapse. Interest rates were comparable to those elsewhere. "Compensation" is repaid from the liquidation (depositors' money) with no cost to the Manx taxpayer. Yes, all humans have brains but yours appears to be deranged. If capable try fact finding - very therapeutic.

[penhydd]

Your mind must be very warped and disturbed Tracyk1000 to believe that people who work and save diligently to accumulate a lump sum of savings for their retirement are greedy - are you jealous?

"... massive lump greedy sum. Greedy greedy people!" Does it give you some kind of satisfaction (or relief) when you attack persons you perceive to be vulnerable?

[Tracyk1000]

Just looking at your slides, the account you had was surely not a current account which took your mortgage payments etc. It would of been a massive lump greedy sum. Greedy greedy people!

[Tracyk1000]

Sorry but you trusted the bank not the Island. you put your money in that bank because it had a huge % return. Dont you have a brain? Get over it. As a Manx Tax payer i am helping to fund any compensation you receive and i certainly didnt receive any high interest rates that you received. Pathetic

[penhydd]

Savings placed in a registered bank are not referred to as an investment or a gamble, the correct term is deposit.

The bank was within the Isle of Man's jurisdiction and it was the Manx regulatory body, the FSC, that allowed half the bank's assets to be deposited UNSECURED and vulnerable in London where they were subsequently seized.

Of course depositors have no wish to burden taxpayers; nevertheless the Manx government should atone for the FSC's blunder - how it does so is their affair.