Comments on: We are right on the money http://www.thisisguernsey.com/2009/10/30/we-are-right-on-the-money/ Island News, Sport, Community & Lifestyle Sat, 20 Mar 2010 12:06:49 +0000 http://wordpress.org/?v=2.8.4 hourly 1 By: Arnald http://www.thisisguernsey.com/2009/10/30/we-are-right-on-the-money/#comment-55612 Arnald Mon, 02 Nov 2009 10:30:54 +0000 http://www.thisisguernsey.com/?p=39018#comment-55612 Yes, ian "The sooner we vote in politicians who.....act with integrity and honesty in the message they....communicate to [the electorate], the safer I will feel." This is the essence of the political stability 'pillar' our business model relies on. Remove the trust of the public by this constant obfuscation of meaning and the pillar is built on sand. However, thank the sea I'm not in Jersey. The defence of the prevailing ideology is bordering on extremist militancy. Yes, ian

“The sooner we vote in politicians who…..act with integrity and honesty in the message they….communicate to [the electorate], the safer I will feel.”

This is the essence of the political stability ‘pillar’ our business model relies on.

Remove the trust of the public by this constant obfuscation of meaning and the pillar is built on sand.

However, thank the sea I’m not in Jersey.
The defence of the prevailing ideology is bordering on extremist militancy.

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]]> By: Eric http://www.thisisguernsey.com/2009/10/30/we-are-right-on-the-money/#comment-55604 Eric Mon, 02 Nov 2009 09:55:39 +0000 http://www.thisisguernsey.com/?p=39018#comment-55604 How silly can one get? Fancy thinking, yes even giving it a thought that any politician can be honest with those who put them in office.- However some good comes from all that oily speeches (oily, very hard to grasp) On the next round of elections people will know who to vote for; and those to be rid of ' and a clause should now be entered., Those who do not keep their promises, be sacked instantly- How silly can one get?

Fancy thinking, yes even giving it a thought that any politician can be honest with those who put them in office.-

However some good comes from all that oily speeches (oily, very hard to grasp)

On the next round of elections people will know who to vote for; and those to be rid of
‘
and a clause should now be entered., Those who do not keep their promises, be sacked instantly-

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]]> By: ian http://www.thisisguernsey.com/2009/10/30/we-are-right-on-the-money/#comment-55590 ian Sun, 01 Nov 2009 19:31:43 +0000 http://www.thisisguernsey.com/?p=39018#comment-55590 Just another example that Deputy Trott cannot be trusted by us, his electorate. He claims to have done all he can to help mediate between Landsbanki and the UK, then freedom of information request to the UK shows he hadn't met even once. It was pointed out that he hadn't even discussed the situation with Iceland, then after many months he went and tried claiming his belated visit as a major achievement, even though nothing was secured (unlike UK/Holland). Now the Foot report is published and rather than publishing a balanced view, he does a one sided spin. No mention of how limited the Depositors protection scheme will be, in terms of either how much will be paid out or how little people may understand it , nor mention of criticism of not having a Financial Ombudsman. This just comes across as another nail in the coffin of Guernsey's finance industry, no matter how Deputy Trott tries to spin it. The sooner we vote in politicians who can be trusted to not only act with our interests at heart, but also act with integrity and honesty in the message they chose to communicate to those whose support they need, the safer I will feel. Just another example that Deputy Trott cannot be trusted by us, his electorate.

He claims to have done all he can to help mediate between Landsbanki and the UK, then freedom of information request to the UK shows he hadn’t met even once.

It was pointed out that he hadn’t even discussed the situation with Iceland, then after many months he went and tried claiming his belated visit as a major achievement, even though nothing was secured (unlike UK/Holland).

Now the Foot report is published and rather than publishing a balanced view, he does a one sided spin. No mention of how limited the Depositors protection scheme will be, in terms of either how much will be paid out or how little people may understand it , nor mention of criticism of not having a Financial Ombudsman.

This just comes across as another nail in the coffin of Guernsey’s finance industry, no matter how Deputy Trott tries to spin it. The sooner we vote in politicians who can be trusted to not only act with our interests at heart, but also act with integrity and honesty in the message they chose to communicate to those whose support they need, the safer I will feel.

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]]> By: Arnald http://www.thisisguernsey.com/2009/10/30/we-are-right-on-the-money/#comment-55569 Arnald Sun, 01 Nov 2009 11:36:51 +0000 http://www.thisisguernsey.com/?p=39018#comment-55569 If the tax base had been more robust, a more useful DPS would have been easier to sell. Criticising the report for suggesting how similar disasters could be mitigated using a sustainable tax model is hardly going to help. The arrogance of the FS and politicans, fed grapes whilst a-lounging, was to believe that the completely incomprehensible games they were playing would keep those tills ringing. If the tax base had been more robust, a more useful DPS would have been easier to sell.

Criticising the report for suggesting how similar disasters could be mitigated using a sustainable tax model is hardly going to help.

The arrogance of the FS and politicans, fed grapes whilst a-lounging, was to believe that the completely incomprehensible games they were playing would keep those tills ringing.

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]]> By: Gary Blanchford http://www.thisisguernsey.com/2009/10/30/we-are-right-on-the-money/#comment-55563 Gary Blanchford Sun, 01 Nov 2009 08:58:33 +0000 http://www.thisisguernsey.com/?p=39018#comment-55563 Deputy Trott is rather selective as to which bits he picks out of the Foot report I suspect the bits that make Guernsey look good. Some of the less compimentary comments, for instance, it says that the Guernsey Depositors protection scheme is misleading to Guernsey Depositors, that it is unlikely that depositors would get back the £50,000 mentioned in the scheme and this should be made more clear to them.Something the LGDAG have been telling the States for at least three months. That Guernsey should have a Financial Ombudsman, something recommended in the Edwards report of 1998. Guernsey Government did nothing about it and still fail to address it. The Foot report also dares to tell Guernsey how it should be running itself from a tax point of view and I think oversteps its authority. So let us take it all into consideration Chief Minister, not just the bits that suit you and sound good. Deputy Trott is rather selective as to which bits he picks out of the Foot report I suspect the bits that make Guernsey look good. Some of the less compimentary comments, for instance, it says that the Guernsey Depositors protection scheme is misleading to Guernsey Depositors, that it is unlikely that depositors would get back the £50,000 mentioned in the scheme and this should be made more clear to them.Something the LGDAG have been telling the States for at least three months. That Guernsey should have a Financial Ombudsman, something recommended in the Edwards report of 1998. Guernsey Government did nothing about it and still fail to address it. The Foot report also dares to tell Guernsey how it should be running itself from a tax point of view and I think oversteps its authority. So let us take it all into consideration Chief Minister, not just the bits that suit you and sound good.

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]]> By: Eric Graham http://www.thisisguernsey.com/2009/10/30/we-are-right-on-the-money/#comment-55557 Eric Graham Sat, 31 Oct 2009 21:36:43 +0000 http://www.thisisguernsey.com/?p=39018#comment-55557 How disappointing that the Chief Minister fails to make a statement on all aspects of the Foot Report, namely: 'Jurisdictions that propose to offer protection to retail depositors must ensure that compensation schemes can be understood by those depositors'. Quite clearly questions have already been asked regarding Guernsey's Depositors Compensation Scheme and have, to date, failed to be answered. Surely with this clear endorsement from the Foot Report could the Guernsey government and the GFSC reassure bank depositors by answering their current concerns. Continuation of this 'wall of silence'will only enhance the feeling that depositors do not understand the DCS and the implications it may well have for them, should another bank go 'belly up'. How disappointing that the Chief Minister fails to make a statement on all aspects of the Foot Report, namely:

‘Jurisdictions that propose to offer protection to retail depositors must ensure that compensation schemes can be understood by those depositors’.

Quite clearly questions have already been asked regarding Guernsey’s Depositors Compensation Scheme and have, to date, failed to be answered.
Surely with this clear endorsement from the Foot Report could the Guernsey government and the GFSC reassure bank depositors by answering their current concerns.
Continuation of this ‘wall of silence’will only enhance the feeling that depositors do not understand the DCS and the implications it may well have for them, should another bank go ‘belly up’.

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