Jawge and Skeng some Finsac info

[Assasin]

for you.

Of the 23,000 accounts comprising the bad debt portfolio, 21,500 are for $5 million or less. That serves as 93 per cent of the accounts.
For those persons, with loans of $5 million or less, whose owner-occupied residence is part of the security for the loan:

23000 accounts do not include those that were settled or sold off prior to 2001, so check this and see why it is possible to have 40,000 business closed.

[Skeng DX]

u ever see me defend finsac?

[Assasin]

did you not ask about 40,000?

[Gamma]

define "defend" ...

[Assasin]

a mussi "offend" him a offend them

[Don1]

for you.

Of the 23,000 accounts comprising the bad debt portfolio, 21,500 are for $5 million or less. That serves as 93 per cent of the accounts.
For those persons, with loans of $5 million or less, whose owner-occupied residence is part of the security for the loan:

23000 accounts do not include those that were settled or sold off prior to 2001, so check this and see why it is possible to have 40,000 business closed.

An "account" is a business?? This info is not helpful in shedding light on what y'all have been yappin' about so long...at least u should post the link to the piece from which u extracted that vague blurb

40K businesses may or may not have been closed....but this info doesn't move the needle on ovastandin dat

[Skeng DX]

cuz it sounds unrealistic ...just THINK ABOUT it...a 2.1 population[in the 90s]...with unemployment rate remaining ~the same[15-16%]---> http://www.tradingeconomics.com/jama...mployment-rate from 91 to 2001

[Skeng DX]

for you.

Of the 23,000 accounts comprising the bad debt portfolio, 21,500 are for $5 million or less. That serves as 93 per cent of the accounts.
For those persons, with loans of $5 million or less, whose owner-occupied residence is part of the security for the loan:

23000 accounts do not include those that were settled or sold off prior to 2001, so check this and see why it is possible to have 40,000 business closed.

faulty reasoning

[Sir X]

lol..what else is new , the imf is good for developing nations,specifically jamaica.

[Muadib]

suh 30,000 sound more realisitic ?

or you believe 100% (23,000) was bad loans.. and no-one paid ?

[Skeng DX]

what was the size of the labour force [out of a 2.1 mil pop.]?

[Muadib]

suh.. wait.. is what man a borrow money fah ? Motor cyar ?

It is a very good piece of datum when trying to speculate on the scale of business closure.. it nuh look suh 'impossible' after all..

[Muadib]

irrelevant.. 23,000 is a big number of bad loans. It is not inconceivable that these were business loans... and thus justifies the scale alluded to (40,000) as a clear possibility...

[Assasin]

I posted it in another thread down below with the source been the Jamaican gleaner. Just want to show Jawge and Skeng the numbers dealing with. This is just the accounts that were passed over to Beal bank.

[Muadib]

Far better than the alternative.. as exhibited by our current debt burden and the record of the 20 years prior to 2007..