How the PNP and FINSAC KILLED the JAMAICAN Economy By selling its BANKS.

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How FINSAC Killed the Jamaican Economy by Selling its Banks
the Financial Sector Adjustment Company FINSAC Created by the Peoples National Party, and its intervention was supposed to save Jamaica from economic disaster, but instead, it left us with long-term wounds. By shutting down numerous banks, consolidating them into a single entity, and selling that entity to foreign interests, FINSAC reshaped the Jamaican economy-often to the detriment of local stakeholders
#finsac #jamaica #pnp #elitejamaica
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14 июл 2024

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Комментарии : 132

@broandrew2523 13 дней назад

40,000 businesses and companies destroyed. Countless employees lost their jobs. Not one solitary apology. The bright folks were in charge. Many lost their savings and property, not because they failed to service their loans but because their banks were hijacked by Run Wid it. Many entrepreneurs took their own lives. Not a single apology. According to them, they did no wrong. 99 years before Jamaica recovers fully.

@johnwildish8599 11 дней назад

started with the BS initiative ... to destroy the FE black market in what was a deregulated market where a black market cannot exist! It was organised chaos...Bounced BOJ checks, the whole of the BOJ management fired and then finding scape goats to blame for the wickedness! the banks and insurance companies, never said a word about the BS initiative!

@broandrew2523 7 дней назад

The green team are not responsible for Finsac but they could have issued an official apology to the Jamaican people. Also they should have paid the outstanding balance to have the report published, so that the people would have an understanding of the financial tragedy that was visited upon them.

@garyg-plus566 13 дней назад

The work of the PNP

@tonystephenson2513 13 дней назад

Any other country, these bastards would’ve been locked up

@EliteJamaica 13 дней назад

Absolutely 💯

@phillylady 13 дней назад

Not in the United States, as seen by the many individuals and corporations who were not prosecuted during the 2008. This is probably a side effect of capitalism. 😢

@tonystephenson2513 13 дней назад

I have seen in Trinidad and other parts of the Caribbean where they disrespect us inside the airport refusing us entry because of this disaster now Jamaica is started to get a bit of self-respect back and they are trying to destroy this government with lies. The sad thing is after finsac the Jamaican people vote them in for another three terms maybe we just like to be punished😂

@EliteJamaica 13 дней назад

Real talk, you couldn't say it better

@tonystephenson2513 13 дней назад

Some people might see you as if you are taking side, but you are just speaking the truth any decent Jamaican should and will appreciate this kind of information keep up the good work, brother

@eliling9841 13 дней назад

Allur love to call up Trinidad 🇹🇹 name in allur mouth boi!!!mc What trini ppl do allur? ..mi sure u never one day step a foot outside of Jamaica!! 🇹🇹 have over 30,000 Jamaicans living there!! You all need to stop this bullshit tf how much Jamaicans does get deported from England and the USA every year..yall Can't vex because ppl protecting their country interest!! Accept the fact Trinidad is a better country and try to build back yours instead of bad talking a brotherly country!!!!!

@skbosdgame8435 14 дней назад

This small country go through so much! We need to know more of Finsac owner’s background so this could never happen again!

@EliteJamaica 14 дней назад

One thats left is Mark Golding, he was the accountant.

@skbosdgame8435 14 дней назад

@@EliteJamaicanot surprised he has pledged his sovereignty to England also with dual citizenship that definitely would make him an Agent to finish destroying Jamaica economy and money value! To sell out Jamaica

@tishontebrown5850 13 дней назад

@@EliteJamaica he was creator, he was advisor to omar davies

@My_Yout 13 дней назад

@@EliteJamaica And he gets rewarded with party leadership. Talk about failing upwards.

@vykx88 12 дней назад

And people really forgot???@@tishontebrown5850

@kevinoconnor2204 13 дней назад

This is what the young dont know and the old choose to forget and everytime the pnp is in power the country goes down but the handout lovers can't see that

@garyg-plus566 13 дней назад

I appreciate you making this video because most Jamaicans act like they forget...👏👏👏

@EliteJamaica 13 дней назад

Thank you so much, and thanks for watching

@courtneyrowe489 13 дней назад

💯; PJ PATTERSON

@courtneyrowe489 13 дней назад

💯, PJ PATTERSON

@My_Yout 13 дней назад

Wow! Thanks for this eye opener. My father was a JOS driver and he had an account at Workers Bank and some years ago I was wondering what happened to it. So sad what they did to poor & working class people. PNP - Poor Never Prosper

@evrolbrown7275 12 дней назад

That was a brilliant,concise an factual piece of journalism my bro.

@EliteJamaica 12 дней назад

Thanks for watching

@donovancameron2867 13 дней назад

The PNP can't even run a chicken farm

@EliteJamaica 13 дней назад

They won't, they will sell it.

@My_Yout 13 дней назад

@@EliteJamaica Or give it to their cronies who know nothing about chickens to run.

@audleybrown4134 10 дней назад

Pig farm

@elsworthmcintosh3848 13 дней назад

PNP this is why uno a beg fi go in power now.

@44NARG1 14 дней назад

They love poor people very much.

@EliteJamaica 14 дней назад

Yes, Portia said it.

@44NARG1 14 дней назад

@@EliteJamaica keep up the work, wi love the contents from day first and you keep flipping it up suh wi nuh bored. Stay safe

@EliteJamaica 14 дней назад

@44NARG1 Thank you.

@gloriathompson4010 10 дней назад

Truly? Reply? Think again!

@44NARG1 10 дней назад

My point exactly.

@leoniebrown1167 13 дней назад

This channel is very interesting and informative I born and grew in ja migrated now but visited too but not often,and never heard or know certain things about the country, thanks for the channel love this . never to old to learn and be informed and I'm not that; of age.blessing Elite.

@EliteJamaica 13 дней назад

Thank you so much for watching

@azariahisrael3898 13 дней назад

FINSAC A.K.A RANSACK

@user-fd7ju5sb6b 13 дней назад

You can easily fleece a people who think a man in the sky, who looks like their ex OWNERS, will bring them salvation.

@EliteJamaica 13 дней назад

Absolutely

@keithstevenson5743 12 дней назад

Finsac didn’t wrecked Jamaica. It created to curtail a financial meltdown.

@evorreid1737 13 дней назад

Beautiful explanation ❤❤love it

@wiltonmcdonald2399 14 дней назад

Thank you for this video it highlights a quote I heard years ago while I was in my early teens. “ Politicians are Liars and Dam Liars” Trust no political entity. Blessings

@EliteJamaica 14 дней назад

Thank you for watching

@wiltonmcdonald2399 13 дней назад

@@EliteJamaica what do you know about the Jamaican fable concerning the Golden Table that allegedly comes up Out of the Rio Cobra River on certain days at Noon.

@EliteJamaica 13 дней назад

@wiltonmcdonald2399 LOL, I know it's a fable. I could tell you the story about if still

@MrNanah38 13 дней назад

We are close to this again right now with NCB. Be careful.

@sovietPOUGAMERtank 14 дней назад

Cool video elite Jamaica

@EliteJamaica 14 дней назад

Blessings and thanks for watching

@sovietPOUGAMERtank 14 дней назад

@@EliteJamaica Blessings with you too and your welcome 😊

@gloriathompson4010 10 дней назад

And it had never been the same; and to see he had a degree in economics

@hbrown2866 13 дней назад

They would like us to forget. They want us to believe that they are now gurus at economic management. Sadly the Finance Minister at the time believed he was a guru at finance management.

@EliteJamaica 13 дней назад

True

@dawnb.1127 13 дней назад

Edward Seaga warmed them and they ignored him.

@dy6682 13 дней назад

Never knew ; good to know.

@EliteJamaica 13 дней назад

Blessings, thank you for watching

@raymonddunkley3275 13 дней назад

I don't think you can understand , that why they glorify person that doesn't have a lot of understanding

@EliteJamaica 13 дней назад

@Diaryofafuneraldirector 13 дней назад

My God Almighty...Thank you for your Interesting Videos I have a Topic of Videos for you

@EliteJamaica 13 дней назад

Go ahead please

@josephinehibbert27 13 дней назад

Seriously!! Were there no one in Jamaica who was able to avert such disaster in the financial system. Why didn’t the government employed competent and experienced professionals from abroad to stabilized the economy, instead of selling out to blasted Trinidad of all the bloody places. I think the management of Jamaica needs an absolute and total overhaul and education of the people involved.

@EliteJamaica 13 дней назад

The government at the time were the ones who orchestrated it.

@dawnb.1127 13 дней назад

Edward Seaga warmed them, and they ignore his warning.

@garfieldwhittaker944 13 дней назад

The great capitalist USA has had similar bank failures...!

@garfieldwhittaker944 13 дней назад

@@dawnb.1127Seaga's free weilding approach to capitalism also contributed. The great USA have had similar bank failures...!

@EliteJamaica 13 дней назад

@garfieldwhittaker944 This wasn't a bank failure.

@michaelrobinson4758 13 дней назад

BAD MIND AND WICKED PEOPLE PJ OMAR BUNTING AND Markie G and These same people want come mash we up again

@EliteJamaica 12 дней назад

Real talk

@newtmignott9046 13 дней назад

They listened to the Imf and lowered the value of the dollar to bring in more investments, which was disaster as well

@fhenlizhao5406 13 дней назад

Im surprised ppl haven't rebelled yet. I see everyday why many brilliant ppl refuse to come back abd invest in their own communities.

@michaelrobinson4758 13 дней назад

Alico and Mutual life

@sovietPOUGAMERtank 14 дней назад

Poor old man 😢0:27

@EliteJamaica 14 дней назад

Really sad

@JaBoss397 13 дней назад

Ok vote JLP

@hutchinsonjohnson2909 13 дней назад

The imf brother

@EliteJamaica 13 дней назад

Different situations, same outcome but FINSAC was purposely created for that purpose. That's the sad thing

@tonystephenson2513 13 дней назад

Nothing to do with the IMF also who take us in the IMF in the first place, brother

@doreenwilliams2018 13 дней назад

I like your channel and contents your channel is unique . Please don't go down the political road

@EliteJamaica 13 дней назад

This is history and these are things that Jamaicans have to remember so they don't make the same mistake. I cover topics that need to be covered. Remember Elite Jamaica is an independent entity.

@doreenwilliams2018 13 дней назад

@@EliteJamaica yes I understand but a lot of persons who is watching your videos for the first time is going to think otherwise. Being that the country is in a election mode now . Remember SOME PEOPLE are gullible when it comes to things like these they are not critical thinkers

@EliteJamaica 13 дней назад

@doreenwilliams2018 People are entitled to their thoughts and opinions. As far as I know, This video is about FINSAC. I don't see the issue. Furthermore its 100% factual.

@karenbrooks7613 13 дней назад

Is finsac an acronym

@EliteJamaica 13 дней назад

Yes, why?

@karenbrooks7613 13 дней назад

@@EliteJamaica curious that it might have more meaning

@EliteJamaica 13 дней назад

@karenbrooks7613 ok, it means Financial Adjustment Company.

@karenbrooks7613 13 дней назад

@@EliteJamaica thanks

@garthweller3379 13 дней назад

Financial sector adjustment company

@kevinmiller6628 12 дней назад

Bout PNP and JLP sale out Jamaica so when u a blame PNP and not the other one JPL sale sir Jamaica now in this time JLP still gave the port to Chinese also so what u talking about?

@luke3172 12 дней назад

First of all, learn to put a proper sentence together. The fact still remains, FINSAC, a product of the PNP, mash up Jamaica, and robbed the working class of their blood, sweat and tears.

@jeffcee9457 13 дней назад

That was a very dark error in our history. Finsca was put in a bad light by the people who we elected the shell scandal the light bulbs and many more played a major role.Lets hope our party learn from this so we can get back into office

@EliteJamaica 13 дней назад

I Just hope the Jamaican people learnt their lesson.

@jeffcee9457 13 дней назад

@@EliteJamaica good luck with that we have that African mentality.they can't wait to get out the JLP so things can go back to normal.

@EliteJamaica 13 дней назад

@jeffcee9457 What the normal robbing of the Jamaican people?

@dawnb.1127 13 дней назад

@@jeffcee9457couldn't agreed more, sad, and as much as I don't want to but the mentality of some Jamaicans are like some Africans, who continue to vote against their own interest and put in leaders that told them that they love the poor, while they and there families and friends enjoy the wealth.

@jeffcee9457 13 дней назад

@@dawnb.1127 well said couldn't have said it better daw

@jdkodak487 13 дней назад

A jlp page this?

@jayrome8764 13 дней назад

Why, because this video highlights the biggest economic meltdown Jamaica has ever seen, which was orchestrated by the PNP?

@EliteJamaica 13 дней назад

No this is an educational/history channel which reminds us of the past so we don't allow it to happen again. Same with slavery.

@jdkodak487 12 дней назад

@@EliteJamaica show we some Andrew stuff to man, bustamante, seaga. You one sided. PNP not different from jlp but you only highlighting one side. Keep doing your thing. Your channel very informative but notice you one sided. Show both side and educate the people. Showing one side show favoritism. Balance it out. Don’t think I’m fighting your thing but I noticed the imbalance.

@jdkodak487 12 дней назад

@@jayrome8764 no warrior I want him to highlight it but him need to highlight both side. Highlighting one side shows favoritism and I very obviously.

@EliteJamaica 12 дней назад

@jdkodak487 Have I not done several videos about the Jamaica Labour Party? Check the channel, sometimes RU-vid bias.

@karenbrooks7613 13 дней назад

Is finsac an acronym