FINSAC enquiry - Poorer savers benefited from FINSAC

Published: Saturday | November 28, 2009


  • Poorer savers benefited from FINSAC

    The Editor, Sir:

    In response to the FINSAC enquiry sittings over the past few days, the question I would like to ask is: Is this enquiry exclusively for the rich? Is it wrong for any government to defend the little that the poor savers got?

    Jamaica, was having a very high interest rate long before all these business people claimed that it was high interest rates which cause their businesses to collapse. Did not the owners of these failed businesses see what the market conditions were like before they jumped into the water?

    It is simple, these failed business people are highly educated; they knew what the market conditions were like. We must thank Dr Omar Davies for saving one million poor people's deposit accounts and 600,000 insurance policies.

    I am, etc.,

    E.J., judahe@ovi.com

  • Davies showed poor judgement

    The Editor, Sir:

    Having read the story of Mechesk Willis and Omar Davies' response that he had confidence in the persons he put to run FINSAC, I am convinced more than ever that the former finance minister is guilty of "economic negligence".

    Patrick Hylton was appointed to run the organisation and he had no experience or track record. How then could Davies tell the Jamaican people that he had confidence in them? What was the basis of this confidence? No wonder he left the country in the state that it is now in.

    I am, etc.,

    OWEN BRYAN, sgeo@hotmail.com, Toronto, Ontario, Canada

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