How can you tell John and Jane Public it is alright to save money for a rainy day, when you cannot regulate the organizations into which these savings are held? On what basis do you chide me for being financially dunce, yet tout the demise of the Credit Union industry?
People who entrusted their life savings to these two institutions, now have NOTHING! And there is deafening silence from the Governor of the Central Bank, while the government steps in to ease up the situation.
If I were an investor I probably would be unable to sleep. But when we consider the Government did nothing when International Finance went belly up, and deposit insurance only guarantees $50,000. (TT) what can you expect?
This after all is Trinidad and Tobago where there is a law for one class of people and the working poor remains just that: the working poor.