The PM says "All of these things we do and many times we have to sit and watch jurisdictions that are imposing these standards on us. They don’t have the same strict adherence to these things that they are asking us to have.”
...and the support for the Spicer case and his Advisor's proposal for a Bank Ombudsman is now closing in on 1,000 people. (one thousand)
that is a lot of frustrated customers - 1,000 !!!
No matter which way you cut it...
Genuine praise to Neil Hartnell for having the courage to speak up and begin to take the lid off these types of cases. The allegations go against every tenet of a civil society.
If cibc fcib, even at the 11th hour take responsibility, and if the Ombudsman plan takes off this could be the most welcome start of a new era of accountability in the Bahamas, which could only help both the banks and the consumers.
As one intelligent colleague said today, given the petitioners' efforts have only been based from one small island SO FAR - if say 700 or so are from that Island what % is that of bank customers on that island that are really upset about the Spicer case and the need for an Ombudsman?
It's a relatively significant % in a very short period of time.
Once word gets spreading through Nassau we would not be surprised to see this number grow even more...
But we need the outcry - one lady today who signed the petition was complaining about her 19% interest rate with a Canadian bank on a $5,000 loan!!
For her, like most Bahamians on a modest salary, no matter how much she pays each month because of the interest, the loan never really seems to go down she says!!
19%??? - when the Canadian central bank is lending to the Canadian banks here at what? 0.5%?
Bahamians deserve to be treated like Canadians, not institutionally taken advantage of!
I heard from a colleague who has read the publicly available affidavits that the bank's affidavit allegedly borders on the surreal for many reasons. Such as the "collateral security" was allegedly approximately double the loan amount, and it was only after the best part of a year of the bank not replying to any correspondence or undertaking any of its duties professionally once the money ran out (while still extracting thousands of dollars in interest each month from the Spicers), that the loans only then fell into default.
Nice business if you can get it - bankrupt the client and then say he's in difficult and grab assets worth double the loan while the Ritz Carlton stood close by ready to develop the site with you.
Under the circumstances I've heard many find the bank's affidavit hard to believe.
The Bank Ombudsman proposed by Mr. Spicer's advisor would be of benefit to all Bahamians.
For as it stands there is no contingency plaintiff's bar in the Bahamas so the law courts remain open to all men like the doors of the Ritz hotel, to steal a line from Lord Denning.
Equally, it is in the banks' interests to have such an Ombudsman in order to have a sustainable banking industry without the otherwise arguably inevitable expensive litigation.
There are solutions to all of this... - but it requires the banks to also accept their role in creating these issues. You can't just blame it all on Bahamians!
For example:-
Many, many people now feel the public outcry over The Spicer case shows how it can go wrong when the evidence alleges a CDN bank repeatedly does not play fair...
It's not just educational issues. It is also the banking system with a combination of excessive interest rates and often negligence or other wrong doing by the banks that perpetuates a system where Bahamians don't feel they can get ahead, and hence too many of our best want to leave...
After all, the allocation of capital in a civil society is the most important decision:-
Look at the public outcry over the Spicer case, which alleges very serious wrong doing by cibc fcib...
Just in a matter of days the Spicers have over 500 people pledging their support to the Spicers!!!
What support for the Spicers!!! - over 500 people !!!
I just looked at the petition and was stunned - it appears the Spicers have very significant support with already over 500 people that have signed an on line petition to support the Spicers in this terrible case exposing cibc fcib allegedlt significant wrong doing and also supporting their adviser's plans for a Banking Ombudsman for the Bahamas, so as to protect all Bahamians from these types of situations.
Over 500 people have signed the on line petition since it started - which it looks like was on or around March 3rd....
I hear there is now a Town Hall meeting this weekend on Abaco to discuss the public outcry with the way the banks are treating Bahamians, with other upset bank customers coming forward as well....
Over 500 people so quickly? Looks like the community is really behind the Spicers and that the banks operating here have really upset a lot of their customers...
Entrepreneur says...
The penny is dropping...
I know who I would be trusting... and who caused most of this catastrophe.
On PM is urged: ‘Flex muscles’ for Sarkis
Posted 12 April 2016, 3:12 p.m. Suggest removal
Entrepreneur says...
Why has no one filed a "conspiracy to injure" law suit?
I will not say on behalf of who....
Pain sometimes creates the greatest change
On Baha Mar bidders barred from talking to Sarkis and CCA
Posted 12 April 2016, 3:09 p.m. Suggest removal
Entrepreneur says...
The PM says "All of these things we do and many times we have to sit and watch jurisdictions that are imposing these standards on us. They don’t have the same strict adherence to these things that they are asking us to have.”
He's right.
On PM says ‘The truth will come out’ after ‘Panama Papers’ leak
Posted 8 April 2016, 12:08 p.m. Suggest removal
Entrepreneur says...
Only 5 days later...
...and the support for the Spicer case and his Advisor's proposal for a Bank Ombudsman is now closing in on 1,000 people. (one thousand)
that is a lot of frustrated customers - 1,000 !!!
No matter which way you cut it...
Genuine praise to Neil Hartnell for having the courage to speak up and begin to take the lid off these types of cases. The allegations go against every tenet of a civil society.
If cibc fcib, even at the 11th hour take responsibility, and if the Ombudsman plan takes off this could be the most welcome start of a new era of accountability in the Bahamas, which could only help both the banks and the consumers.
On ‘Terrified’ of outcome in CIBC loan dispute
Posted 16 March 2016, 10:03 p.m. Suggest removal
Entrepreneur says...
The petition is already getting closer to 1,000!
As one intelligent colleague said today, given the petitioners' efforts have only been based from one small island SO FAR - if say 700 or so are from that Island what % is that of bank customers on that island that are really upset about the Spicer case and the need for an Ombudsman?
It's a relatively significant % in a very short period of time.
Once word gets spreading through Nassau we would not be surprised to see this number grow even more...
But we need the outcry - one lady today who signed the petition was complaining about her 19% interest rate with a Canadian bank on a $5,000 loan!!
For her, like most Bahamians on a modest salary, no matter how much she pays each month because of the interest, the loan never really seems to go down she says!!
19%??? - when the Canadian central bank is lending to the Canadian banks here at what? 0.5%?
Bahamians deserve to be treated like Canadians, not institutionally taken advantage of!
On Ombudsman urged to resolve bank disputes
Posted 16 March 2016, 5:44 p.m. Suggest removal
Entrepreneur says...
I heard from a colleague who has read the publicly available affidavits that the bank's affidavit allegedly borders on the surreal for many reasons. Such as the "collateral security" was allegedly approximately double the loan amount, and it was only after the best part of a year of the bank not replying to any correspondence or undertaking any of its duties professionally once the money ran out (while still extracting thousands of dollars in interest each month from the Spicers), that the loans only then fell into default.
Nice business if you can get it - bankrupt the client and then say he's in difficult and grab assets worth double the loan while the Ritz Carlton stood close by ready to develop the site with you.
Under the circumstances I've heard many find the bank's affidavit hard to believe.
Couldn't happen if we had a Bank Ombudsman...
On Ombudsman urged to resolve bank disputes
Posted 15 March 2016, 2:06 a.m. Suggest removal
Entrepreneur says...
The Bank Ombudsman proposed by Mr. Spicer's advisor would be of benefit to all Bahamians.
For as it stands there is no contingency plaintiff's bar in the Bahamas so the law courts remain open to all men like the doors of the Ritz hotel, to steal a line from Lord Denning.
Equally, it is in the banks' interests to have such an Ombudsman in order to have a sustainable banking industry without the otherwise arguably inevitable expensive litigation.
On Ombudsman urged to resolve bank disputes
Posted 14 March 2016, 4:31 p.m. Suggest removal
Entrepreneur says...
There are solutions to all of this... - but it requires the banks to also accept their role in creating these issues. You can't just blame it all on Bahamians!
For example:-
Many, many people now feel the public outcry over The Spicer case shows how it can go wrong when the evidence alleges a CDN bank repeatedly does not play fair...
http://www.ipetitions.com/petition/baha…
Over 500 people feel this in fact!!! - and just in days...
The Bahamian people deserve SO much better than what the Spicer case reveals.
On PM slammed over mortgage promises
Posted 12 March 2016, 1:33 a.m. Suggest removal
Entrepreneur says...
It's not just educational issues. It is also the banking system with a combination of excessive interest rates and often negligence or other wrong doing by the banks that perpetuates a system where Bahamians don't feel they can get ahead, and hence too many of our best want to leave...
After all, the allocation of capital in a civil society is the most important decision:-
Look at the public outcry over the Spicer case, which alleges very serious wrong doing by cibc fcib...
Just in a matter of days the Spicers have over 500 people pledging their support to the Spicers!!!
http://www.ipetitions.com/petition/baha…
Over 500 people... including people from all over the world, Canada, US, UK, etc.
On Bahamas may be ‘failed state within 10 years’
Posted 12 March 2016, 1:26 a.m. Suggest removal
Entrepreneur says...
What support for the Spicers!!! - over 500 people !!!
I just looked at the petition and was stunned - it appears the Spicers have very significant support with already over 500 people that have signed an on line petition to support the Spicers in this terrible case exposing cibc fcib allegedlt significant wrong doing and also supporting their adviser's plans for a Banking Ombudsman for the Bahamas, so as to protect all Bahamians from these types of situations.
Over 500 people have signed the on line petition since it started - which it looks like was on or around March 3rd....
I hear there is now a Town Hall meeting this weekend on Abaco to discuss the public outcry with the way the banks are treating Bahamians, with other upset bank customers coming forward as well....
Over 500 people so quickly? Looks like the community is really behind the Spicers and that the banks operating here have really upset a lot of their customers...
On ‘Terrified’ of outcome in CIBC loan dispute
Posted 11 March 2016, 8:37 p.m. Suggest removal