You have a responsibility to help save institution, Luke

Fri, Jan 25, 2013

Hi Luke:

I believe that your article on the St Vincent Building and Loan Association has initiated a run on the institution and may trigger its demise.{{more}} I applaud your courage and audacity to reveal the truth and the urgent need for corrective action. However, you also have a responsibility to ensure the security of the depositors and other stakeholders by pressurizing the Government, Opposition and Regulators to intervene and save this financial institution.

If St Vincent Building and Loan Association falls, then the contagion will begin with several other financial institutions, credit unions and banks in the OECS following in rapid succession. Unfortunately, any such a collapse of the financial system will result in our own “Arabic Spring” .

Yours truly

Omar Davis