hearing 19th FEB

  • bobwin
  • 23/12/08 n/a (free)
  • a depositor
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Posted: Sun, 15/02/2009 - 12:52

I have read and tried to assimilate the many comments and data posted on this site and links and have come to some conclusions and , I think , pertinent observations(I am not proud, so tell me if you disagree please).
The adjournment in January was granted to allow the IOMG to refine the SOA. The affidavits submitted show no change except for the treatment of non GBP depositors--to their detriment cf DCS.
There is no undertaking from the other 31 banks to support the SOA.
The 150 million from the IOMG is a loan.
The EPS say they have paid out 6000 depositors @ 1000 each = 6million.
The cost of the EPS was stated at 10.5 million, so 45% have not claimed or have not been paid(I am one who has not been paid).
Re. the SOA/DCS, there are 31 banks who are required to contribute a maximum of 350,000 each(minimum 35000).
So maximum in 1 financial year is 10.85 million.
There are reportedly 140 billions invested in the IOM(maybe it is 4 pence now).
The .125% levy would yield 1.7 billion if there was no cap!
The LP has around 150million on account somewhere.
I propose that the IOM get a loan from UK equivalent to the monies held in liquidation in KSFUK as their own FSC permitted this situation to arise.
By my calculation, this would give around 700 million which is close to 90% pay out.

The loan book is 400 million so the risk is pretty small--I would take it.

Also Gordon is in trouble soon--good PR if he bunged the IOM 500million to pay the British people their dues--much Kudos.


CEO FSA salary 660,000 staff 2,500 population 61 million
CEO FSC salary 225,000 staff 60 population 80,000

They are both inept but how do they work out the pay?

Bob in Davao

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Bob in Davao:"CEO FSA salary

  • Anonymous
  • Offline
  • Sun, 15/02/2009 - 19:39

Bob in Davao:
"CEO FSA salary 660,000 staff 2,500 population 61 million
"CEO FSC salary 225,000 staff 60 population 80,000"

So on the basis of staff ratio FSC CEO should be paid around £16,000 pa and on basis of population ratio FSC CEO should be paid around £900 pa! Either way, if SoA is not adopted my guess is that he'll be on his way out very soon afterwards.

hearing 19 feb

  • Julie
  • 03/12/08 14/07/09
  • a depositor
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  • Sun, 15/02/2009 - 17:35

News today on tv U.S.A Rich countrys to help sort out world finances
What is Gordon doing about I.O.M
If FRIEND Gordon Ha Haaaaa was in charge of I.O.M he would have come up with a tax package on the banks by now unlike Tony (Some life line Tony is) Gordon is good at this he knows all about TAXING

One small point

  • Tricky Dicky
  • 24/10/08 30/05/09
  • a depositor
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  • Sun, 15/02/2009 - 17:22

The £150 million from IOMG either by way of loan or whatever you wish to call it, is only a MAXIMUM, it is not set in stone that IOMG will pay into whichever scheme or 3rd solution this full amount.

excellent Bobwin

  • sambururob
  • 10/10/08 n/a (free)
  • a depositor
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  • Sun, 15/02/2009 - 17:01

Succintly summarised Bobwin.
What is frustrating is that all those who are actually paid to find a solution don't get it - even those paid £225,000 pa
Tell what - give us the job and we will do it for half the money shared between us!!!!
You would have to laugh if this wasn't so incredibly serious and was effecting real people's lives in a very negative way.