What the options are

  • showmethemoney
  • 04/11/08 31/05/09
  • a depositor
  • Offline
Posted: Tue, 04/11/2008 - 14:29

I have not gotten through all of the ocntent, but am adding a few, maybe obvious observations to those of you who have been slogging away on our behalf. So apologies if this is naive.

Personal stories are helpful to grab media attention as well as giving comfort to all of us in this awful situation. it is good to know we are not alone. However this is a political and economic issue that will only get resolved by 1) getting enough noise and leverage to make a difference in Parliament and 2) getting the KIoM bank aquired by a healthy financial institution that will fast forward a positive result for depositors. So what is the best path for us on each of these fronts?

Politicians only care about getting reelected so we need to vote with our feet, and get enough voters involved to make a difference. Pols may say they care for voters on a personal level, but I am pretty cynical on this one. So I think they will not really be interested in our personal stories unless it serves their purpose. It may make sense to compile data from the personal stories and get a paper in at a senior level to those in Parliament who might represent us more vocally. Who are they? maybe get direct media attention as well.

Secondly who is likely to buy up the KSF assets? They also have a mortgage book which is pretty valuable and could be bought by a financial institution for an attractive price. I assume that is what PWC is trying to do and why there is a delay until 20th Nov.

Lastly, the reasons for anyone making a deposit on the Isle of Man should not be an issue. Alasdair Darling is trying to cover up a huge blunder (freezing Iceland assets) by implying we depositors are all tax evaders and should not be treated like citizens or reponsible people. It is implied we are all tax evaders who are getting our comeippance. That is clearly untrue. But more imortantly, that is NOT the issue. We all made deposits in good faith and expected to have access to our hard earned money. We are not criminals!!! And we should not be treated as such. With such a global economy, many people have money in many accounts around the world: for legitimate reasons, be it business, avoiding currency fluctuations, paying debt in different locations, whatever. Given the degree of funny accounting and shady personal expenses of various politians that have been payed for by UK taxpayers (you may recall this news a few months ago), Darling does not have a leg to stand on with this type of attack. We are hard working people who are desperately trying to eke out an existence in extremely trying times, with a world economic maltdown that everyone is dealing with. Tax evasion should not even be on the radar screen!

I am interested in what the rest of you think along these lines.

Your rating: None