NI Presbyterian mutual society, Short of funds for withdrawal?

Money_Grabber13579

expat68 wrote: »

"After clashing with the Government last night, the IMF downgraded the total cost of the banking bailout to just over £130billion - or 9.1 per cent of national income. "

IMF estimate of UK banking bailout is £130billion. General point but lets not kid ourselves that the taxpayer is not paying for the banking bailout - we will all be paying for this for many years. The historic FSA contributions from the banks didnt even come close to paying for the bail out.

But you've misunderstood again. The government paid for the bail out's of the banks that stayed afloat. But the banks that actually went under, were not funded by the government. That was done by the other banks.

brick

Money_Grabber13579 wrote: »

But there is a difference to the bail out's of banks that were near collapse, and the banks which actually did.
With the banks that were near collapse, the government gave them money, in return for a share of the bank.

I take it as read that taxpayers foot the bill here - for stopping the progression from "near collapse" to "collapse".
And yes, it will presumably be dressed up as a great investment.
If only HMG had seen similarly fit to splash some taxpayers' cash with an appropriate deal (or support measure) to stop PMS' progression.

Money_Grabber13579 wrote: »

With the banks that actually collapsed, i.e. Icelandic banks, all the other registered banks do have to fund this. The government or taxpayer does not pay for this directly. (Although they may do in lower savings rates)

So by paying indirectly, taxpayers foot (an unspecified portion of) the bill here too!

In both cases taxpayers pay... yet HMG sees fit not to assist the financial institution favoured by Irish Presbyterian savers.
Notwithstanding all the talk of "doing whatver is needed" to protect saver deposits, and directly contributing to the outflow of PMS funds when increasing (registered institution) protection to £50K (and all the publicity that generated).

I reckon it boils down to political will, and the whole "registration" business can be spun whatever way Government chooses.

Money_Grabber13579

But they don't pay through higher taxes! Just lower savings rates. In the end, the tax payer pays for everything! And in a way, they will for this as well, but not directly! People who have lost money, will no longer be able to spend it, therefore, there's less sloshing about in the economy. So taxpayers pay in that way, if that how you look at it!

silentpci

Did you hear that P.M.S. savers who don't have a voting right at The General Assembly in June will be barred from the P.M.S. session according to Presbytery last night

joylikes2shop

oh dear...sounds like there's trouble brewing!

crazymess

Silentpci

Whats does that mean?

silentpci

I think it means those who have a ticket as a rep. from their church are the only ones will be allowed inside!!!!!!!!!!!!

presbyteriannomore

If this is correct that means the minister & 1 rep chosen by Kirk Session - unbelievable.

PCI sets itself up as the democratic church, but in reality it is terrified of democracy, as anyone who has ever tried to get a fair hearing from presbytery knows.

D.A.

silentpci wrote: »

Did you hear that P.M.S. savers who don't have a voting right at The General Assembly in June will be barred from the P.M.S. session according to Presbytery last night

I think this is unlikely. Maybe someone who knows more about it than me could clarify.

As far as I can see, the Business Board (guess who the convenor of that is ;-) ) arranges the order of business for Assembly week, but I think it would be unlikely that they would hold this debate in closed session, particularly if it still comes under the Board of Mission in Ireland (does it?). Normally if I'm not mistaken, the only closed sessions are for the Judicial Commission.

I think what may have been said at Presbytery is that only members of Assembly can vote on or speak in this debate (as is normal with all Assembly business). Anyone else can (as previously stated) listen to the debate from the gallery.

Two things you all need to do though:
1. Find out who will be representing your congregation at the General Assembly (normally the minister plus a couple of elders);
2. On the PCI website, it says that the Business Board "may give permission to speak to persons who are not members of Assembly". I would suggest you, as a group, get your request in ASAP! If the Business Board turn you down, then they will just look petty (again).

Good luck! Remember that the General Assembly represents YOU, so use it!

joylikes2shop

I'm having computer prob's at the moment which i need to address, but would anyone volunteer to get an 'official' statement from church house about this before an online riot breaks out ?