Forum Support Old55 Posted January 19, 2009 Forum Support Posted January 19, 2009 once they find a way to have US tax payers pick up the tab. At this point it would not suprise me one bit. Link to comment Share on other sites More sharing options...
Mr Lee Posted January 19, 2009 Posted January 19, 2009 What do you think the odds are that expat Legacy investors will get there money back? I say slim to none. PDIC to pay insurance claims of depositors of 12 rural banks By Des Ferriols Updated January 20, 2009 12:00 AM PDIC president Jose C. Nograles said these 12 banks combined have estimated deposit accounts of over 135,000 in 50 locations all over the country, with total deposit insurance claims of at least P14 billion.According to Nograles, the PDIC is prioritizing the claims of small depositors with deposits of P100,000 and below.You can read the whole story, click the link belowhttp://www.philstar.com/Article.aspx?Artic...ubCategoryId=66 Link to comment Share on other sites More sharing options...
TheMason Posted January 20, 2009 Posted January 20, 2009 What do you think the odds are that expat Legacy investors will get there money back? I say slim to none. PDIC to pay insurance claims of depositors of 12 rural banks By Des Ferriols Updated January 20, 2009 12:00 AM PDIC president Jose C. Nograles said these 12 banks combined have estimated deposit accounts of over 135,000 in 50 locations all over the country, with total deposit insurance claims of at least P14 billion.According to Nograles, the PDIC is prioritizing the claims of small depositors with deposits of P100,000 and below.You can read the whole story, click the link belowhttp://www.philstar.com/Article.aspx?Artic...ubCategoryId=66 I think you're right that the investors in the 'double-your-money' plans are out of luck, but if an expat had a normal account with the bank I suspect they'll be reimbursed along with everyone else. With the amount of Filipino money that is held off-shore, the govt. won't want to set a precedent that only citizens are covered by deposit insurance in the event of a bank failure.When Iceland's bank system melted down a few months back they initially said the insurance would only cover Iceland citizens but they quickly reversed course after international pressure was applied. One key difference though is that Iceland was a location of choice for many Europeans to deposit their funds. I don't think there's a big rush for foreigners to deposit money in Filipino banks.I think what is more likely is that the PDIC will put stingent documentary requirements in place and it will be up to the depositor to prove they had money in the bank. My wife is quite dilligent about keeping a record of our deposits and saving all our receipts, but I doubt that everyone is as careful. I suspect many will lose their money due to a lack of proof of funds, not because of their citizenship. Link to comment Share on other sites More sharing options...
johnrxx99 Posted January 20, 2009 Posted January 20, 2009 (edited) IMO, if one made sure the deposit was in your name and you kept the records, your OK, with the banks.With the Ponzi pre-need schemes, your fecked! But I hope I'm wrong. Bounced cheques and an assignment back to the a'hole that owned the company does not bode well in the proof stakes that you where not a dupe.By the way, where is that twat who was pushing the pre-need schemes? Edited January 20, 2009 by johnrxx99 Link to comment Share on other sites More sharing options...
Mike S Posted January 20, 2009 Posted January 20, 2009 Hummmm .... John ...... kinda reminds me of the ol' Johnny Cash song ...... "they went down..down.. down and the flames got higher ....... and it burns ... burns ... burns .... that ring of fire ... that ring of fire" Link to comment Share on other sites More sharing options...
tom_shor Posted January 21, 2009 Posted January 21, 2009 Hummmm .... John ...... kinda reminds me of the ol' Johnny Cash song ...... "they went down..down.. down and the flames got higher ....... and it burns ... burns ... burns .... that ring of fire ... that ring of fire"Try Preperation H :th_interesting: Link to comment Share on other sites More sharing options...
Mike S Posted January 21, 2009 Posted January 21, 2009 Especially after eating habanero pepper sauce ...... ......... ohhhhhhh ... hurts so good ... hahahahaha Link to comment Share on other sites More sharing options...
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