Karl Explain this and ask Mr. Hylton to explain it too.

[Assasin]

http://rjrnewsonline.com/business/fo...ed-local-firms

http://www.jamaicaobserver.com/news/...crisis_8692580

Karl Mr. Hylton can gwaan talk all him want.

Explain this and tell me a nuh highway robbery.

[Karl]

You got your answer -

He said NCB was forced to sell non-performing loans valued at more than $5 billion to FINSAC

That was speaking to a "gun to NCB's head". It meant that NCB was an entity that was going down the tubes and needed to be rescued by someone. FINSAC was the only institution that offered NCB help.

NCB could look forward to 'living'. ...and therefore your Auntie and Uncles life savings held there made safe.


In any case, more explanations came from Jeffrey Cobham, the former Managing Director of the National Commercial Bank (NCB) -

Mr. Cobham pointed out that failure in ventures bought from the Government including the Jamaica Orange Company, the then Wyndham Hotel and the Liguanea land aided in the bank’s problems

- bad mangement decisions as the bank took on businesses it had not a clue on how to operate.

It does not stop there

The former banking executive was asked by the commissioners whether NCB was forced into such ventures by the Government. To this he said no.

= meaning the bank jumped in areas that it did not have a clue on. Moved from its core business. Jumped in of own free will!!!

[Assasin]

Explain how FINSAC charge 90 percent interest rate.

This show they were never willing to settle anything but to bleed people.

Let Hylton tell you how much interest he charged and hom long. Rather than trying to rewrite history them need to provide the answers.

What was the contract that JRF bought those debt.

[Karl]

Explain how FINSAC charge 90 percent interest rate.

This show they were never willing to settle anything but to bleed people.

Let Hylton tell you how much interest he charged and hom long. Rather than trying to rewrite history them need to provide the answers.

What was the contract that JRF bought those debt.

Sass:
How can you say that after reading that the numbers that were helped by FINSAC ran into the tens of thousands?

What are you saying tens of thousands when compared to less than 100...it was claimed less than 50...but let us stick to less than 100...do not count?

btw - How was that 90% interest computed?

Certainly we have read nothing that states any note with that rate was ever taken out.

Is it as some do mortgage loans...claiming that a 30 year mortgage loan when fully satisfied after running full term the borrower has made payment of approximately 3 times the original loan and thus the wicked lender has forced an approximate 200% interest payments to be made made?

[Assasin]

"btw - How was that 90% interest computed?"

does it matter how it is computed? let us hope a nuh compound interest for your sake but 90% is robbery any how it computed.

Certainly we have read nothing that states any note with that rate was ever taken out.

Is it as some do mortgage loans...claiming that a 30 year mortgage loan when fully satisfied after running full term the borrower has made payment of approximately 3 times the original loan and thus the wicked lender has forced an approximate 200% interest payments to be made made?
__________________

MOST OF THE LOANS WERE TAKEN OUT IN THE TEENS AND TWENTY % Maybe you haven't read it but if you haven't then do your research. This can't be compared with mortage.
In a mortgate you it clearly stated that you pay 3 times the amount based on the interest rate. The people already took a loan with an interest rate and would have paid maybe double the amount they took out when it is compound but many people end up paying 100 TIMES what they took out and still ended up losing their property.

How do you know they settled thousands?? Are you just taking the words of Omar and Mr. Hylton? How many people got 100% write off??? Some politicians got big right off and owe their life dearly to FINSAC. There is politican who later was in the cabinet that I know currently, still in the the shadow cabinet and he bought down a lot of farmers with him, none of whom got write off of a cent, so you can gwaan talk.

[Karl]

"btw - How was that 90% interest computed?"

does it matter how it is computed? let us hope a nuh compound interest for your sake but 90% is robbery any how it computed.

You have not answered. I can only assue that like me you do not know.

Certainly we have read nothing that states any note with that rate was ever taken out.

Is it as some do mortgage loans...claiming that a 30 year mortgage loan when fully satisfied after running full term the borrower has made payment of approximately 3 times the original loan and thus the wicked lender has forced an approximate 200% interest payments to be made made?
__________________

MOST OF THE LOANS WERE TAKEN OUT IN THE TEENS AND TWENTY % Maybe you haven't read it but if you haven't then do your research. This can't be compared with mortage.

In a mortgate you it clearly stated that you pay 3 times the amount based on the interest rate. The people already took a loan with an interest rate and would have paid maybe double the amount they took out when it is compound but many people end up paying 100 TIMES what they took out and still ended up losing their property.

You already showed you do not know what the figures were computed. The above is therefore empty air.

How do you know they settled thousands?? Are you just taking the words of Omar and Mr. Hylton? How many people got 100% write off???

There has been no dispute on that fact ..save by you!

I ignored your claims and put much weight on the fact of there being no dispute that thousands were assisted.

Some politicians got big right off and owe their life dearly to FINSAC.

It is public knowledge that politicians on both sides got relief. ...and some who did not.

There is politican who later was in the cabinet that I know currently, still in the the shadow cabinet and he bought down a lot of farmers with him, none of whom got write off of a cent, so you can gwaan talk.

What is the above? ...more wild talk?

[Assasin]

Karl how would you know how 90% is computed??? NCB and Finsac say a 90% so a ninety percent. I am no mathematician. Now your biggest problem is how it is computed. If a laff a dead to rathid.

[Karl]

Karl how would you know how 90% is computed??? NCB and Finsac say a 90% so a ninety percent. I am no mathematician. Now your biggest problem is how it is computed. If a laff a dead to rathid.

NCB and FINSAC?
...or you and others who provide no information on that?

...some persons here claim reading and comprehension is over-rated
If you were offering the articles you provided above as NCB saying anything about rates on loans moving from 25% to 90% then you have failed.

[Muadib]

mi tink seh argument dun..

PNP Govt of the time made mistakes and decisions against advice.. Jamaica has paid and continues to pay a heavy price..

They are yet to admit any fault..

Wi nuh vote fi Bank or Businessman so we should be appropriately guided..

[MdmeX]

90% is just that 90% (too friggin much interest) - it nuh matta what mathematical formula was used to compute it.

Get it dude

[Karl]

90% is just that 90% (too friggin much interest) - it nuh matta what mathematical formula was used to compute it.

Get it dude

Suh yuh a bawl bout di hin-tres pan yuh mortgage? ...or the guy or doll who pays minimum interest on his/her credit card balance and end up paying a zillion% in interest as he/she pay down the loan/balance? ...or the person who is 'forever repeatedly' falling behind and then catching up on his car payments who likewise ends up paying a zillion% interest on that loan.

Come on MdmeX, the whys and wherefores are important!

I would think we are not politicians here ( leave out Lazie, Maudib and Sass ) but calm deliberate thinkers?

[Assasin]

?????? Karl what kind of craziness is that. Can you explain?
So if they can't pay the minimum you raise the interest and balance and give them 90% to pay?

What political is paying 90% interest on your loan???

[Karl]

Sass: You are locked into a partisan position. Your positions have nothing to do with dispassionate look at the facts...so let us shut it down.

[Gamma]

and you are not? that is what intrigues me about this dialogue .....

[Karl]

and you are not? that is what intrigues me about this dialogue .....

Surprized?

I am PNP to the core - but on discussions, facts are facts. They fall were they may...no amount of trying to fudge around change them.

I have said it before that I think it stupid to dispute facts...the facts never change so what is the point?

...to attempt to 'pull the wool over someone eyes? That in my book is silly as I believe "there are no fools".

Any attempt - as these silly politicians never seem to realise... - to pull the wool over anyone's eyes results in eventual the individual arriving at the truth. So in my book it makes no sense. ...and I try at all times not to trifle with the truth or play the fool by trying to change facts.