- Thread starter ERICKXSON
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Bancredito FITCH AWARD
Good Catch Erickx
Fitch, Standard & Poors, Moodys - all just like Arthur Anderson except without the exposure of a scandal yet. Conflicts of interest through the wazoo! They make zillions of dollars, yet never appear to do a critical analysis and only react after the caco has hit the fan.
Fitch, Standard & Poors, Moodys - all just like Arthur Anderson except without the exposure of a scandal yet. Conflicts of interest through the wazoo! They make zillions of dollars, yet never appear to do a critical analysis and only react after the caco has hit the fan.
Only about 6 months ago
Moodys and S&P were giving good marks to the DR and their bonds.Those of us who live here could not believe they were talking about the same country! All they have to do is read the DR1 daily news summary!
They(bond rating services) "HYPE" the bonds,the brokerage houses sell them,the DR gets Billions,commisions for everyone,loans are "re-structured" many times,the debt is forgiven,everyone is happy!Repeat the above until country has 1000% inflation monthly! You should have saved your "Confederate Money"it is worth more than pesos! Cris Colon
Moodys and S&P were giving good marks to the DR and their bonds.Those of us who live here could not believe they were talking about the same country! All they have to do is read the DR1 daily news summary!
They(bond rating services) "HYPE" the bonds,the brokerage houses sell them,the DR gets Billions,commisions for everyone,loans are "re-structured" many times,the debt is forgiven,everyone is happy!Repeat the above until country has 1000% inflation monthly! You should have saved your "Confederate Money"it is worth more than pesos! Cris Colon
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You know what Criss, thank you for your enlightment now i understand the B.S the Government Plays and now with this visit to George W. BUSH must likely he will get breaks and all that crap at the Dominican People Expense, if he gets a stamp of approval from the US gov on anything he'll come back bragging about it and ready to commit his next assault to the Dominican People, Jesus Christ we need to start distribuiting flyers from a CESNA all over the country....................UGGGGGRRRRRRRRRRRRRR.
I HATE HIPPOLITO I HATE HIPPOLITO I HATE HIPPOLITO I HATE
I HATE HIPPOLITO I HATE HIPPOLITO I HATE HIPPOLITO I HATE
Re: Only about 6 months ago
For those comfortably sitting at home in Canada, Sweden, Germany, Switzerland, Norway, Denmark, Holland, Belgium, France and other upstanding Christian places that pay their UNICEF dues on time and are therefore convinced that they are helping poor countries, please consider the above simple economics lesson from Dr. Criss. The financial institutions of the developed world (investment banks, IMF, World Bank, export banks, etc.) exploit the hell out of the corruption to be found in the developing world (yes, I realize that there is shared blame). But you can all sleep better at night knowing that you are sending rice and shoes to a poor Nepalese, Honduran or Angolan girl after your financial institutions have been complicit in saddling her forever with crushing debt, hyperinflation and economic instability.
It's like stepping on an ant and then pretending to nurse it back to health.
Criss Colon said:Moodys and S&P were giving good marks to the DR and their bonds.Those of us who live here could not believe they were talking about the same country! All they have to do is read the DR1 daily news summary!
They(bond rating services) "HYPE" the bonds,the brokerage houses sell them,the DR gets Billions,commisions for everyone,loans are "re-structured" many times,the debt is forgiven,everyone is happy!Repeat the above until country has 1000% inflation monthly! You should have saved your "Confederate Money"it is worth more than pesos! Cris Colon
For those comfortably sitting at home in Canada, Sweden, Germany, Switzerland, Norway, Denmark, Holland, Belgium, France and other upstanding Christian places that pay their UNICEF dues on time and are therefore convinced that they are helping poor countries, please consider the above simple economics lesson from Dr. Criss. The financial institutions of the developed world (investment banks, IMF, World Bank, export banks, etc.) exploit the hell out of the corruption to be found in the developing world (yes, I realize that there is shared blame). But you can all sleep better at night knowing that you are sending rice and shoes to a poor Nepalese, Honduran or Angolan girl after your financial institutions have been complicit in saddling her forever with crushing debt, hyperinflation and economic instability.
It's like stepping on an ant and then pretending to nurse it back to health.
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This is how it is
There is an underground of investors in DR who are making a killing with the misfortune of those who need to borrow money. Dominicans are borrowing at a scary pace. Bancredito is the largest issuer of credit cards in DR and was just recognized by international credit card organizations because of its success in this field.
This underground either knows every move made by financiers or gets inside, priviledged information that 99% of the populations doesn't.
Prior to the Baninter debacle, the big fish who held certificates of investments with Baninter, pulled out before the bomb exploded. The rest are getting the bum steer, even as Banco Central is paying off. There are $25 billion in interests due from Baninter this month for those who were left behind the long lines.
Mr. Ginebra, one of our financiers suggested that big investors should be penalized in situations like Baninter's by getting their funds last during a customer run for money. He feels that since they take the risk of investing earning high interest rates, and knowing full well that this may drive a bank broke, they should pay for it with big penalties for withdrawing when the shit hits the fan. Big investors are taking the risk knowing the Central Bank will support them in a run.
I tend to disagree with him, because investors are not at fault if the rest of Dominicans are stupid enough to borrow at such high rates of interest and maintain bad financial habits.
I personally moved from Baninter to Bancredito at the right time. Next month is the critical point for a next move. The destination is not clear. But the way things are going, it might be wise to buy a property just for safety. It's getting to where it is safer to keep your money in your car's glove compartment.
TW
There is an underground of investors in DR who are making a killing with the misfortune of those who need to borrow money. Dominicans are borrowing at a scary pace. Bancredito is the largest issuer of credit cards in DR and was just recognized by international credit card organizations because of its success in this field.
This underground either knows every move made by financiers or gets inside, priviledged information that 99% of the populations doesn't.
Prior to the Baninter debacle, the big fish who held certificates of investments with Baninter, pulled out before the bomb exploded. The rest are getting the bum steer, even as Banco Central is paying off. There are $25 billion in interests due from Baninter this month for those who were left behind the long lines.
Mr. Ginebra, one of our financiers suggested that big investors should be penalized in situations like Baninter's by getting their funds last during a customer run for money. He feels that since they take the risk of investing earning high interest rates, and knowing full well that this may drive a bank broke, they should pay for it with big penalties for withdrawing when the shit hits the fan. Big investors are taking the risk knowing the Central Bank will support them in a run.
I tend to disagree with him, because investors are not at fault if the rest of Dominicans are stupid enough to borrow at such high rates of interest and maintain bad financial habits.
I personally moved from Baninter to Bancredito at the right time. Next month is the critical point for a next move. The destination is not clear. But the way things are going, it might be wise to buy a property just for safety. It's getting to where it is safer to keep your money in your car's glove compartment.
TW