OLINT’s demise - no negative impact on the economy – Shaw

[Lazie]

Thursday, 17 July 2008

Finance Minister Audley Shaw is maintaining that the problems facing unregulated investment schemes will not be affect the sector, despite growing fears of a possible fallout.

He was responding to concern raised in some quarters that the difficulties being encountered by OLINT Limited could have repercussions for the financial sector and the wider economy.
With more than US$600 million reportedly being managed by OLINT, some financial observers are predicting that the crisis facing the scheme will have far reaching implications.

However, Mr. Shaw insisted that the financial sector remains intact.
"The banking and financial system in the country are fully intact and there's no negative impact on that system by the misfortune of these schemes," he said.
Reacting to reports of OLINT clients being jittery Mr. Shaw said financial regulators did all they could to alert the public to the dangers of investing in these schemes.

[Lazie]

Yuh certain bout that Mr. Shaw? I've heard of people who made purchases based on the interest they were getting from OLINT. How are they going to make the monthly payments now?

[Gamma]

wonder what those persons put on their loan applications as the source of income....

[Assasin]

but if you inna the thing right yuh nuh need nuh loan star.

[Gamma]

that is my first thought but....different strokes.....some people want the loan AND the 10%

[Bricktop]

Yuh certain bout that Mr. Shaw? I've heard of people who made purchases based on the interest they were getting from OLINT. How are they going to make the monthly payments now?

Purchases? Some people that I know very well took out a second mortgage and placed the money with OLINT. I just received news from a close source that OLINT is pretty much over as they just returned from Turks where they say Smith is sitting in his living room in darkness.

[Muadib]

Anneda Black man crushed.. him nevah si wheh dem duh Garvey ?

[Bricktop]

Anneda Black man crushed.. him nevah si wheh dem duh Garvey ?

A nuff black man a get crushed. My source had $1 million US in OLINT. He already withdrew his principal and made major purposes so he is actually about $50,000 ahead but you know how it burn di man as he was gonna tek everything out in two months.

[Islandman]

Jawge will tell you that if Nanny P, that great leader who was like Garvey ahead of her time, was in power, the black man would have been protected against the plantation class who are now running the show again.

[Time]

If needed Mr Shaw will have to rescue Olint members!

Thursday, 17 July 2008

Finance Minister Audley Shaw is maintaining that the problems facing unregulated investment schemes will not be affect the sector, despite growing fears of a possible fallout.

He was responding to concern raised in some quarters that the difficulties being encountered by OLINT Limited could have repercussions for the financial sector and the wider economy.
With more than US$600 million reportedly being managed by OLINT, some financial observers are predicting that the crisis facing the scheme will have far reaching implications.

However, Mr. Shaw insisted that the financial sector remains intact.
"The banking and financial system in the country are fully intact and there's no negative impact on that system by the misfortune of these schemes," he said.
Reacting to reports of OLINT clients being jittery Mr. Shaw said financial regulators did all they could to alert the public to the dangers of investing in these schemes.

Mr Shaw can talk all he want. Probably he believes that the real problem is money is possible money laundering and that Olint has the cash to refund the deposits of the other legal investors.