Breaking news: Are we to take Lord Bach's word that depositors in KSFIOM are safeguarded?

Breaking news: Are we to take Lord Bach's word that depositors in KSFIOM are safeguarded?

[Extract from Meeting of the Ministry of Justice, 10th December 2008]
David Heath MP: You are then entirely satisfied that the interests of not only the banking sector in both the Isle of Man and Guernsey but also those who deposited monies with the banks in those countries were safe guarded from the first point of action of the Treasury in freezing the assets of the Icelandic banks and since, and that those depositors interests are now safe guarded in so far as any depositors interests are safe guarded in the United Kingdom?
Lord Bach: Yes I am.

Either Lord Bach really does not understand the tactics of the UK Treasury in dealing with the demise of KSFLondon or he knows something that no one else seems to know?
If Lord Bach can sit in a meeting of the Ministry of Justice and declare that depositors interests in KSFIOM are safeguarded in line with depositors in the United Kingdom, please could he explain to these same depositors when they can expect to get their money back.

Sadly it appears that not only has the Ministry of Justice surrendered any control over the fate of a banking crisis in a Crown Dependency that demands its representation in the area of foreign affairs, no one in the Ministry of Justice has bothered to appreciate just what their colleagues at the UK Treasury have done to prevent KSFIOM depositors from having their money returned to its rightful owner.

Or is there something further that either Lord Bach or Alistair Darling can add to the debate to give depositors the clarity they crave?




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