THE EDITOR, Sir:

AS THE Cash Plus saga unravels, we start to hear the cries of the socially conscious among us for Government intervention to soften the blow to the investors.

I find it very paradoxical that now the Government is being called into this mess when before, these same investors were telling the Government to leave Cash Plus alone. However, the Financial Services Commission (FSC), having fought for and got a court ruling establishing its dominance over all local financial entities and then issuing a cease-and-desist order puts the Government and we, the taxpayers, right in the middle of it.

Credibility

And like the dog chasing the car, the FSC having got its authority sanctified by the courts, seems unclear as to what to do next.

To me, it seems clear, having issued a cease-and-desist order to all intents and purposes closing down Cash Plus, the FSC or a manager appointed by it must now go into Cash Plus and establish the financial credibility of this paper giant, not from the perspective of salvaging its existence, but rather, to liquidate it and pay the investors.

Unlike some, I don't believe that what gone bad a morning can't come good a evening. I doubt the investors will get back 30 cents on their principal.

I would also strongly suggest that we enact laws against all forms of pyramid schemes and I believe all investment schemes should, whether the law forces them to or not, submit to the reporting requirements of the FSC. We need to have a body that can protect the ignorant investor.

I am, etc.,

PAUL DUNCAN

pduncan428@gmail.com

Kingston

Via Go-Jamaica