• conned
  • 13/10/08 n/a (free)
  • a depositor
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Posted: Fri, 02/10/2009 - 14:43

Anyone feel like sending Tony Brown and John Aspden an email to give them something for the weekend? A few hundred would be nice.

chiefminister(?)cso [dot] gov [dot] im

John [dot] Aspden(?)fsc [dot] gov [dot] im

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ASPDEN'S Manxradio comment - response

  • IceCrusher
  • 14/10/08 25/10/11
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  • Sat, 10/10/2009 - 09:55

In response to Aspden's Manxradio broadcast, the following comment:

Mr Aspden is being very economical with the truth; although correct in saying that this has been a tragic affair for depositors, many of us have lost a lot more than 'some' of our money. I spent sixteen years saving my hard-earned monies with the Derbyshire BS ready for buying a house and providing for my retirement back in my home country. Twelve months after the Derbyshire sold out to KSF, my money was lost to me and I will have to wait for years before getting back even 'some' of the £298K still outstanding after receipt of the first dividend.

Mr Aspden is trying to absolve himself from any responsibility in this affair, but it is abundantly clear that the Isle of Man bank did have an awful lot of money available for investment, and such investment was under the control of the bank's directors with the oversight, guidance, control and regulation of Mr Aspden's Financial Supervision Commission (FSC). The Directors chose to invest what was primarily ordinary retail depositor's monies back into the UK subsidiary of KSF h.f. at a time when disclosures now reveal to the general public that weaknesses and doubts regarding Icelandic banks was well known within the financial industry at that time and should therefore have been at the top of any director's or regulator's 'need to know' priority list.

There is no evidence to suggest that Mr Aspden and the Directors were ignorant of this situation, on the contrary, Mr Aspden's FSC had met with the UK's Financial Services Authority (FSA) to discuss the matter and had exchanged several emails on the subject. That the bank's Directors - encouraged by the FSC - then went ahead and plunged millions of pounds of depositors savings into share schemes and other deals arranged with the UK subsidiary at this precarious time speaks volumes of the crass stupidity and ineptitude of these over-paid individuals who thoughtlessly gambled with thousands of other people's money without due diligence or even the slightest care. Trying to divorce himself from involvement in this scandalous debacle speaks volumes of Aspden's lack of integrity and low moral fibre. He is using the adventitious circumstance of the global financial crisis to cover up his own, and his department's, inadequate supervision and proper response to a developing situation and as such he should be thoroughly ashamed to venture such a pathetic cover-up story on Manxradio.

I won't forget Aspdens remark

  • expat
  • 10/10/08 31/05/09
  • unspecified
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  • Sat, 10/10/2009 - 10:02

I won't forget Aspdens remark on Oct0ber 8th 2008, "There's no such thing as a free lunch". That was his explanation to depositiors in Douglas IoM at the Gaitey Theatre. Time will see him for the inept regulator that he is. He cannot absolve himself of responsibility for his part in this debacle.
So remember Mr Aspden, "there is no such thing as a free lunch".

Mr Aspden

  • steveservaes
  • 13/10/08 31/05/09
  • unspecified
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  • Sat, 10/10/2009 - 17:35

Saw him in Costa Coffee the other day
Tempted to give him a turbo wedgie til he admitted the truth
Or a chinese burn

John Aspden is back!

  • steveservaes
  • 13/10/08 31/05/09
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  • Thu, 08/10/2009 - 13:29

Check out Manx Radio today for his interview.
He says nothing wrong happened in the IOM.
How about placing all a bank's cash in another bank with serious country-risk issues and a rather "hopeful" loan book?
Horrible to think that he and the Doc had a bit lovely pile of real cash and swapped it for rights in KSFUK's useless loan book - with the cash (our cash) all being handed to KSFUK customers as they ran the bank and swapped their interest in the dodgy loan book for our money!

Link to Aspden's Interview

  • tonycBrisbaneOz
  • 12/10/08 31/05/13
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  • Thu, 08/10/2009 - 21:25

Video present

  • Julienne
  • 16/10/08 31/08/09
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  • Thu, 08/10/2009 - 08:30

Thought I'd send them the video they "starred " in on utube!! Along with a few choice words of course.
They probably have automatic delete set up - but I tried!!

ANy junk in their box should stuff 'em up 1 year on - they certainly stuffed us!!

What a surprise

  • Julienne
  • 16/10/08 31/08/09
  • a depositor
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  • Thu, 08/10/2009 - 08:34

Well guess what ??

chiefminister(?)cso [dot] gov [dot] im this e-mail address bounced !! and Aspden is 'out of the office'

Rats down a sewer springs to mind!! another good video

They are still 'concerned'. Lobbying continues..

  • follow_the_tao
  • 11/10/08 31/05/09
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  • Fri, 09/10/2009 - 00:22

They wouldn't be making these statements if there was no issue.
THEY were the 'professionals' that couldn't read the situation or history. They were (not are) the experts.
They screwed up!!
And now they want us to believe their pathetic excuses for their unbelievable ignorance stupidity and self-interest. By now no-one on this site should be in the deluded state of believing they were operating in our best interests. So exactly whose interests were they operating on?
I note the addresses bouncing... whoever has the first success in finding a current address please post...

We should..... and DST and HNW "management" should be directing this ...... be still harrassing them.

If there is no action there is no "story".

The lying bastards ought to know that every time they stick their heads out of their bunkers that they risk getting them blown off. Tell me how else are they going to learn? And how else are we going to have an impact?

I think we have to write hardcopy.
This was HNW / PP? ( I'm not protected at all!!!!!!!!!!!!!!!) 's recent agenda. Now where is the coordination.
One might think obviously elsewhere. Now where is it?

You think you haven't lost anything? You don't think it's worth doing anything. There's no direction?

One or two emails don't count... more do......

Listen to the interviews/statements: they are pathetic in extremis..... They are so pathetic they can be shot down. They also have been pout on the record.

Is their little cluster of power so bombproof?

I'll return later to check for 'avenues of access' that we might have discovered.

But I thought Mr Aspden said he did keep an eye on the financial

  • glen07
  • 21/10/08 n/a (free)
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  • Fri, 09/10/2009 - 00:56

I found this in a article, dated May2003. It says :-

"John Aspden, head of the Isle of Man Monetary Authority, said his organisation is in the process of reworking the island's current deposit guarantee scheme. He said: "We keep a close eye on the state of the international financial world - and also on our competitors in the channel Islands and elsewhere.

"Depositors look at the probity of the jurisdiction itself, and the bank they are doing business with - both of which ought to satisfy them as to their probity. But insurance in place does now make a difference to their decisions."

Mr Aspden notes that after the Isle of Man implemented its first scheme in 1988, the island became the first offshore jurisdiction to be awarded Designated Territory status by the UK government, allowing funds domiciled there to be sold directly into the mainland".

He seems to say that the FSC does keep an eye on the international financial world. Why didn't he see the collapse of Icelandic banks coming?