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FINSAC Chairman rebuffs calls for termination

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  • #16
    wait a minute....his wife applied for a loan and decided notto take it citing the high interest rate and he is talking nonsense?

    huh?!! why could that not be a factor, the high interest rate EVEN if SHE know what it was before she applied? as for carey and his wife let us just say that your assumption lacks substance and that the facts might necessarily coincide with it.

    of a fact though the CD and overdraft issue, has me scratching my head too.

    as for his CD's etc.

    Infidelity does not consist in believing, or in disbelieving; it consists in professing to believe what he does not believe. Thomas Paine

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    • #17
      Originally posted by Gamma View Post
      wait a minute....his wife applied for a loan and decided notto take it citing the high interest rate and he is talking nonsense?

      huh?!! why could that not be a factor, the high interest rate EVEN if SHE know what it was before she applied? as for carey and his wife let us just say that your assumption lacks substance and that the facts might necessarily coincide with it.

      of a fact though the CD and overdraft issue, has me scratching my head too.

      as for his CD's etc.
      I think for us to believe...or even if you tone it down to, he is asking us to assume it was solely the matter of high interest rate that prevented his wife accepting the loan...his argument that it was solely the 'high' interest rate that caused his wife not to accept the loan, we would have to believe she had no idea what rates on the type of loan she applied for held at that time.

      I know of no sensible person who applies for a loan not knowing the range within which the lending institution grants such loans. ...but in Jamaica at that time, I know as fact that before persons such as Boyd Carey's wife applied for a loan the lending institution's rep 'announced' upfront the expected rate. The rate was never a surprise. You were never asked to apply and then you were 'ambushed' on terms (which includes rate).

      Boyd Carey is asking us to believe his wife applied and the rate offered was a surprise. I find that extremely difficult to believe that she could have found herself in such a position!
      "Never doubt that a small group of thoughtful, committed citizens can change the world. Indeed, it is the only thing that ever has."

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      • #18
        gamma, do you see a conflict for the chairman of the enquiry?


        BLACK LIVES MATTER

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        • #19
          what if she was prepared to take it but subsequent intervening events made it less attractive because of the interest rates? does he need to ay anything more on that? the loan was NOT taken and THAT is the only relevant factor.....it does not preclude that what he says is not true, the high interest rate became even more prohibitive...don't forget these were not fixed rates either and changed rapidly.

          Infidelity does not consist in believing, or in disbelieving; it consists in professing to believe what he does not believe. Thomas Paine

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          • #20
            Originally posted by Gamma View Post
            what if she was prepared to take it but subsequent intervening events made it less attractive because of the interest rates? does he need to ay anything more on that? the loan was NOT taken and THAT is the only relevant factor.....it does not preclude that what he says is not true, the high interest rate became even more prohibitive...don't forget these were not fixed rates either and changed rapidly.
            I find it difficult to believe she was 'ambushed' by rates offered. She may have decided against going forward with her acceptance ...but I am thinking there would have been factors outside of rate offered that caused the change of heart - the change from 'picking up of the funds'/taking possession of the loan funds.
            "Never doubt that a small group of thoughtful, committed citizens can change the world. Indeed, it is the only thing that ever has."

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            • #21
              the CD issue i don't understand. i'm not even sure it is relevant BUT i would not have taken the appointment because of that.

              needless to say, because of the hue and cryand the delays etc, i believe the commission is absolutely necessary even if it is to spend even more money to bring in someone from ouside of jamaica.

              Infidelity does not consist in believing, or in disbelieving; it consists in professing to believe what he does not believe. Thomas Paine

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              • #22
                Can Karl now explain to me how 75% interest rate affect business.

                It seems like them have to have some tourist white man because only them nuh comprimise it that a the case.

                that is pass "Capitalism Gone MAD"
                Last edited by Assasin; January 24, 2010, 01:47 PM.
                • Don't let negative things break you, instead let it be your strength, your reason for growth. Life is for living and I won't spend my life feeling cheated and downtrodden.

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                • #23
                  as i said, she may have been prepared to accept it at some point but then due to intervening factors he situation became less dire OR she was able to negotiate a better rate ELSEWHERE and at the end of the day it was about the rates.

                  it does not beggar belief karl. i don't know what happened all i am saying is that your conclusion precludes other relevant and probable possibilities. certainly if i was hellbent on not gong forward i would raise that too.

                  as i said to mosiah, the CD and overdraft thing is FAR more relevant. why make a big deal out of a loan that never was?!!!

                  Infidelity does not consist in believing, or in disbelieving; it consists in professing to believe what he does not believe. Thomas Paine

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                  • #24
                    Karl the rates was moving like a plane.

                    nothing uninformed about it. I assume it is not the first time she had a loan and knew that at that rate she couldn't afford it.
                    • Don't let negative things break you, instead let it be your strength, your reason for growth. Life is for living and I won't spend my life feeling cheated and downtrodden.

                    Comment


                    • #25
                      Originally posted by Gamma View Post
                      the CD issue i don't understand. i'm not even sure it is relevant BUT i would not have taken the appointment because of that.

                      needless to say, because of the hue and cryand the delays etc, i believe the commission is absolutely necessary even if it is to spend even more money to bring in someone from ouside of jamaica.
                      Is an overdraft a loan?
                      TIVOLI: THE DESTRUCTION OF JAMAICA'S EVIL EMPIRE

                      Recognizing the victims of Jamaica's horrendous criminality and exposing the Dummies like Dippy supporting criminals by their deeds.. or their silence.

                      D1 - Xposing Dummies since 2007

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                      • #26
                        technically, yes....the bank is advancing funds to you.

                        Infidelity does not consist in believing, or in disbelieving; it consists in professing to believe what he does not believe. Thomas Paine

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                        • #27
                          Originally posted by Gamma View Post
                          as i said, she may have been prepared to accept it at some point but then due to intervening factors he situation became less dire OR she was able to negotiate a better rate ELSEWHERE and at the end of the day it was about the rates.

                          it does not beggar belief karl. i don't know what happened all i am saying is that your conclusion precludes other relevant and probable possibilities. certainly if i was hellbent on not gong forward i would raise that too.

                          as i said to mosiah, the CD and overdraft thing is FAR more relevant. why make a big deal out of a loan that never was?!!!
                          My conclusion was it stretches the imagination to think it was all about rates! ...which seems to be what you are saying about "other relevant and probable possibilities".

                          One question I asked myself was, why would I put in an application when I already know the rate? ..if that rate was unacceptable?

                          Trus mi, if you had even gone as far as going into the lending institution and even at that late stage the rate was unacceptable, you would say to the bank rep, 'thanks...but, no thanks'...and left! No way would you put in an application.
                          "Never doubt that a small group of thoughtful, committed citizens can change the world. Indeed, it is the only thing that ever has."

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                          • #28
                            sorry .. don't trust yuh because i don't know the circumstances......there are other far more complelling issues than a loan that was not taken...

                            Infidelity does not consist in believing, or in disbelieving; it consists in professing to believe what he does not believe. Thomas Paine

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                            • #29
                              The CDs?

                              Well ...was the rate such that the funds were there to 'best benefit' Boyd Carey?

                              ...would disruption of accruing benefit made him happy or sad? ...elated or angry? Would he praise or cuss those he deemed responsible for 'baxin food outta im mout'?

                              ...then what in everything but name...the calling of his loan i.e. his overdraft and disrupting his financial arrangements by wiping out some of the funds he had in his CDs ...& disrupting returns on same ...make him happy or sad? ...elated or angry? Who would he blame for that?
                              "Never doubt that a small group of thoughtful, committed citizens can change the world. Indeed, it is the only thing that ever has."

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                              • #30
                                res assured that i do not know the answers to those questions but as i said...those give me pause for cause and are far more reevant than a loan that was never taken.

                                Infidelity does not consist in believing, or in disbelieving; it consists in professing to believe what he does not believe. Thomas Paine

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