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Wednesday, March 9

'I feel like I want to vomit' - another Finsac horror story

JamaicaObserver.com: "FORMER proprietor of the Little Pub Hotel and Restaurant in Ocho Rios, Keith Foote, yesterday told the Financial Sector Adjustment Company (Finsac) Commission of Enquiry how mounting interest rates in the 1990s pushed his $5-million loan to $33 million, eventually leading to the loss of his home in 2002.

Foote, joining a long list of aggrieved small entrepreneurs giving testimony at the enquiry into the 1990s meltdown, said that he was treated with disdain when he approached Finsac to renegotiate the loan after paying $26 million toward the debt.
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