Focus

The Focus Group


Membership Rules for this Group

Membership is currently granted automatically to anyone who requests it (for administrative simplicity). However, membership here is restricted in that continued membership of any individual must be supported by other existing members here, and such support must be ongoing. If not, individuals may be ejected from the group without further discussion. If you don't like that, your option is not to join.

This group is neither intended to be secretive nor divisive - all ideas and proposals put forward here should be such that they may be considered likely to be acceptable to a significant proportion (by number) of DAG members.

Initial objectives of this group

To (re)define and clarify core objectives of the DAG, then to go on to define viable strategies to meet those objectives. This to be done imminently.

Posting guidelines

This group is about focus! Posts with too much detail, off topic, etc. will be removed, and members who posted them may be considered for removal from the group. Please don't join if you cannot work within these guidelines.

How to post

Use the Group menu on the right to Create a Group discussion. Please do not make the post public and do not create a Forum topic (because that would be automatically public.)


report on the IOM court hearing

Posted 11/04/2009 - 10:02 by KA

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For a full account of the 9th April 's court hearing , please go to the Manx Herald web-site and read its report .

Reply to Manx Herald Editorial: "Has the UK really 'stolen' our money’?"

Posted 14/03/2009 - 16:33 by Lucky Jim

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Keeping up the pressure on the IoM Government:

Published today in response to a long Editorial in the Manx Herald:
http://www.manxherald.com/index.php?news=410

Sir,
Your editorial was very perceptive. I personally don't believe that the KSFIOM debacle was part of a conspiracy dreamt up by Alistair Darling and Co. I believe the substantial Kaupthing IoM funds were put into Kaupthing UK with the notional idea of preventing the Iceland Government being able to get its hands on the money, it being common knowledge to 'insiders' that things were going pear-shaped in Iceland's economy prior to october 2008.

The fact is the size of the money upstreamed to Kaupthing UK exceeded the regulatory terms of such a transfer. Neither the FSA nor the FSC should have allowed this to happen. Which one is the guilty party for this serious regulatory failure? Both the FSA & the FSC plead "not me!"
In my book they colaborated together so they are both guilty. Only a public enquiry will be able to apportion the relative degree of blame. I think the larger portion of the blame rests with the FSA because it did not follow the official Memorandum of Understanding under which the two agencies agreed to operate in their dealings with each other. John Aspen told the Treasury Select Committee that in effect he was hoodwinked by his opposite number in the FSA.

The depositors are in a position of having been legally robbed of their money and that money is frozen by Court Order until such time as Iceland has repayed the debt incurred by the UK Treasury in underwriting 100% depositors' savings in Icesave & landsbanki.

The KSFIOM depositors are caught in the crossfire of this fiasco. It's as though a thief had broken into your house & robbed you of everything, telling you that you could not have it back until another party paid them money that was owed them!

The UK Prime Minister says the IoM Government should vouchsafe the KSFIOM depositors' savings but the IoM Government refuses to do what every other European country has done in respect of their failing banks. Sadly the IoM is going to pay a heavy price for not offering this assurance to people who deposit in its banks. Only a fool would put their money on deposit in the IoM where the word TRUST no longer has any meaning, and there is just a compensation scheme that is only there in legislative terms, done at the time in the unlikely event that it would ever have to be invoked.

Right now the IoM Treasury is hell bent to the tune of £1,000,000 in trying to stop the DCS being invoked in the KSFIOM fiasco, believing that a Scheme of Arrangement would be cosmetically less harmful to the image of the IoM as a good place to put your money. Unless the IoM Government finds the means to repy depositors' 100% of their savings the writing on the wall for the IoM will get so large that the wall itself will collapse!

L.Jim

Reply to Manx Herald Editorial: "Has the UK really 'stolen' our money’?"

Strategy & Tactics -- Keeping up the pressure on the IoM Treasury

My latest letter to the Editor in response to: http://www.manxherald.com/index.php?news=410:

Sir,
Your editorial was very perceptive. I personally don't believe that the KSFIOM debacle was part of a conspiracy dreamt up by Alistair Darling and Co. I believe the substantial Kaupthing IoM funds were put into Kaupthing UK with the notional idea of preventing the Iceland Government being able to get its hands on the money, it being common knowledge to 'insiders' that things were going pear-shaped in Iceland's economy prior to october 2008.

The fact is the size of the money upstreamed to Kaupthing UK exceeded the regulatory terms of such a transfer. Neither the FSA nor the FSC should have allowed this to happen. Which one is the guilty party for this serious regulatory failure? Both the FSA & the FSC plead "not me!"
In my book they colaborated together so they are both guilty. Only a public enquiry will be able to apportion the relative degree of blame. I think the larger portion of the blame rests with the FSA because it did not follow the official Memorandum of Understanding under which the two agencies agreed to operate in their dealings with each other. John Aspen told the Treasury Select Committee that in effect he was hoodwinked by his opposite number in the FSA.

The depositors are in a position of having been legally robbed of their money and that money is frozen by Court Order until such time as Iceland has repayed the debt incurred by the UK Treasury in underwriting 100% depositors' savings in Icesave & landsbanki.

The KSFIOM depositors are caught in the crossfire of this fiasco. It's as though a thief had broken into your house & robbed you of everything, telling you that you could not have it back until another party paid them money that was owed them!

The UK Prime Minister says the IoM Government should vouchsafe the KSFIOM depositors' savings but the IoM Government refuses to do what every other European country has done in respect of their failing banks. Sadly the IoM is going to pay a heavy price for not offering this assurance to people who deposit in any of its banks. Only a fool would put their money on deposit in the IoM where the word TRUST no longer has any meaning, and there is just a compensation scheme that is only there in legislative terms, done in the unlikely event that it would ever have to be invoked.

Right now the IoM Treasury is hell bent to the tune of £1,000,000 in trying to stop the DCS being invoked in the KSFIOM fiasco, believing that a Scheme of Arrangement would be cosmetically less harmful to the image of the IoM as a good place to put your money. Unless the IoM Government finds the means to repy depositors' 100% of their savings the writing on the wall for the IoM rwill get so large that the wall itself will collapse!

L.Jim

Antigua's corruption links to IoM Accounts

Posted 13/03/2009 - 14:57 by Lucky Jim

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This has been published in IoMToday:

Richard Allen is to be congratulated on his excellent article on the Guardian's exposure of the link between the jiggery-pokery in Antigua and the Isle of Man.

Allen Bell's response was utterly pathetic, predictable and simply implausable. He says:
"The Guardian article and headline misrepresent the Isle of Man as the passive host of suspect funds ......but it's a million miles away from the truth as recognised by international experts outside the Guardian offices."

Could he please tell us who are these international experts ?

He also states: "We work in regular and active co-operation with law enforcement agencies around the world, and this includes flagging up concerns and triggering wider investigations. For obvious legal reasons this work goes on behind the scenes and cannot be discussed in detail."

Really? I thought everything in his Department's representation of the IoM was 'transparent', all 'above board'.
What law enforcement agencies? What concerns has he flagged up? What wider investigations has he initiated?
Oh! sorry ... I missed that he can't tell us "for legal reasons". Nice one Allen! Come off it, the public are not stupid!

Did Mr.Bell read the report by Canadian forensic accountant, Robert Lindquist? No he didn't! But I suggest that he does and then makes a full, transparent public statement to his Government & the people of the Isle of Man.

Whilst he is at it will he provide the evidence to deny that the IoM is ranked 11th. in the list of the world's Tax Havens, with 10 of its financial institutions being implicated in dodgy business? If he has forgotten who they are he should have a word with Alistair Darling who will be happy to jog his memory for him.

L.Jim
http://www.iomtoday.co.im/news/Isle-of-Man-misrepresented-in.5064518.jp

The hypocritical Bishop of the IoM

Posted 12/03/2009 - 07:55 by Lucky Jim

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The Bishop - a member of the Tynwald - has complained about some depositors writing a letter to 'them'.
http://www.iomtoday.co.im/news/Bishop-calls-in-police-after.5055323.jp

Here is my reply to the article in the IoMToday paper
Sir,
I am not the author of the letter and don't know who is, but frankly I can not see anything wrong with it!

I have a relative who is an elderly, retired, disabled woman who has lost her life savings because the Island's Financial Supervision Commission has totally failed to protect her money.

Gordon Brown says that in seeking a global solution to the global crisis in the banking world every government throughout the world should vouschsafe savings & deposits in their banks.
Instead of agreeing with that policy the IoM Government is cocking the snook at Gordon Brown by saying it does not agree with it! Why not I ask?

It is now common knowledge that the Isle of Man is 11th. in a list of international Tax Havens involved in secret accounts set up in 10 financial institutions on the Island for the purpose of rich people evading paying taxes.. Are we to believe that the IoM Treasury is not aware of this?

Come on! IoM Government - do the right thing for decent, hard working, tax-paying retired expats who trusted your Island to take due care of their hard-earned life savings! Pay up - or shut up your
crooked financial shops before honest people - or the British Chancellor - do it for you!

As for the Bishop, instead of whinging to put down depositors who put their trust in the Isle of Man, he of all men should be standing up for truth & justice & expose the jiggery-pokery that he knows damn well is going on!

L.Jim

We should all keep looking in www.iomtoday.co.im and www.manxradio.com and write in response to anything that affects us, directly or indirectly

LACK OF CONCENSUS IN IDEM

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Consensus in Idem is one of the "essentials" of a contract highlighted in Contract Law.

How can we best exploit the absence of this in our contracts with KSFIOM?

Thanks and regards

Questions for Mike Simpson for call on 23rd February 2009

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Hello everyone,

Please use this thread for questions you would like to be put to Mike Simpson on the 23rd February.

Need to identify "verified" depositors

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Can we allocate some brain-power to this? ... It's becoming increasingly necessary to be able to identify whether site-members are really depositors or not.

MANX RADIO BACKS THE DAG

link: http://www.manxradio.com/newsread.aspx?id=32628

The radio invites you to have your say! Another tactical opportunity to further our Mission!

How to tackle HMG?

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In the early days it was all about trying to pressurise HMG in doing something.

Create a formal DAG entity

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Personally I've believed for a long time that advantages of a formal entity outweigh the disadvantages. Other DAGs have formed limited companies.

100% return, by the end of 2009

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Understandably, nobody to date has ever put a date limit on the "100% return" objective.

Proposal for three primary operational areas

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DAG's three primary activities are:

1. Financial (return of deposits)
2. Communication (providing information and support to our members.)

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