Tynwald Select Commitee Meeting
Some extracts from yesterday's IOM today. Quotes (their quotation marks not mine) from John Aspden. Of course we need to see the transcripts from the evidence, to establish their context, verify the reporting and see what followup questions were asked.
Is the first one a typo or is he just telling the truth? Given the benefit of hindsight what would he have done differently (and why wasn't it done in the first place)?
The second suggests that they (FSC) were aware of potential failure immediately before/up to the 8th October. If this is the case then it would be incredulous that the bank's directors were not similarly aware. This would appear to be a contradiction of the evidence submitted previously be the directors, i.e they were not aware of the imminent collapse when their or family member's moneys was withdrawn.
Are the cracks in the wall finally appearing?
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Regulator John Aspden, chief executive of the Financial Supervision Commision, said: 'I can't give you 100 per cent assurance that there is a single thing we could have done to prevent this.
'Right up until October 8 we were looking at not implausible possibilities of KSF IoM being saved.' he said. 'But once a bank starts getting into serious problems we are increasingly restricted as to what we can do without pulling the pack of cards down.' **
Full article:
http://www.iomtoday.co.im/news/Collapse-was-not-bungled.6205705.jp
I'm going to out this bluntly: They are lying.
To protect their little butts they are lying, or being "economical with the truth" (how delicate!)
It is obvious that the mediocrity and greed of the IoM establishment led to this debacle.
They desperately are still trying to defend their ill gotten gains.
It is that simple.
Can we kindly stop cooperating with them in assenting to their fabrications?
The bastards behaved negligently. Thus they pay.
Now can we finally get on and sue them?
I hazard a response to the idiot Aspden's response that (he) they were not 100 per cent sure...
How many people can say they were 100 per cent sure? You get the point? Or are you so stupid?
The man is digging his own grave.
Aspden you are an idiot, you ought to be removed from your post. The only reason you are not is that you are the fall guy. Good luck, not. Ever heard of vicarious responsibility?
Your legal system stinks to high heaven, like a lot of legal systems. You might note that I 'm not pulling my punches, now why might that be? Well it is because the legal arguments are obvious. How much more disrepute does your legal system want to endure?
And Aspden, yes you you f**ker, feel free to respond. But you are a manipulating wimp, just like I see your ugly mug in the photos. Who would want to sleep with such an ugly mug? You have your shekels.. you think they will keep you warm at night.... yes they will will if you are the wanker I think you are. At least until we take them away. You intellectual pygmy.
Oh, yeah I'm angry. And what are you? Arrogant, ignorant, bunkered, pathetic, a selfish incompetent bastard?
I'm waiting.
But these bastards are innured. Like the rest of the financial community they have looted and sit on their ill gotten gains.
They laugh. Appropriately. Because the played the game beautifully.. they screwed us.
I wouldn't visit a place near to me if I were you, Just joking.
But seriously... the political situation in the UK and the IoM approaches banana republic levels. This is a serious comment. We are dealing with clowns. I'm in SAm. Banana republic special, but now these guys are laughing.
Sovereign debt crisis? Do these guys pay ? Or do we?
Kill an accountant today is mu suggestion for a tee-shirt.
Your saw the movie Titanic. Time to make it real.
I'll see you in the bar.