Subscribe to this topicForums > General Investment Discussion > Topic: Can JT Financial seek an injunction?
| Jan 9th 2008, 12:25 Isegrim Nikolaidis |
Re: Can JT Financial seek an injunction? | |
| One of the biggest obstacles seems to be the rediculous deathline that LL has set to comply with their new policy. Since it is impossible to do so it seems that the banks have to find a way to survive beyond this deathline. Perhaps a temporary change to another form would do the trick (a real estate company for instance) at least until the matter at hand is more clearly defined. Instead of interest payments they could offer their clients particepation in land ownership. Certainly this would take a lot of work but the company would have a fighting chance and prevents that it will be completely terminated. |
||
| log in to reply | ||
| Jan 9th 2008, 12:08 Ivan Halfpint |
Re: Can JT Financial seek an injunction? | |
| I know this is not what peope want to hear now but..... I cant imagine any court ruling agains the Lindens on this one. LL is the owner of this game and in their term and conditions they clearly state they can make whatever changes whenever. On top of that L$'s are a fictional currency (*cough*)so really any business on SL does not have any monetary value. We know this is not really the case but...... For me it is just a sad story all around - it is not just 'a few bad apples' there are alot of banks out there who cant honor their commitment. The problem is as long as Lindens are xchangeable for US dollars in an unregulated economy there are going to be people out there scamming and defrauding people. I thought SL was suposed to be about having fun, creativity, metting people and most importantly getting away from reality! People losing thousands of USD's and and people nvesting paycheques in SL. What hapened to the fun? As long as Lindens are linked to USD there is always going to be this id of stuff happening. Maybe if we had an in world only currency not linked to real dollars we could get back to the business of having a good time in sl :) |
||
| log in to reply | ||
| Jan 9th 2008, 11:36 Isegrim Nikolaidis |
Re: Can JT Financial seek an injunction? | |
| I might be mistaken but .... did LL just pulled the biggest ponzie in the history of SL. | ||
| log in to reply | ||
| Jan 9th 2008, 07:38 Thoms Vansant |
Re: Can JT Financial seek an injunction? | |
| hello folks, tried to get an lisence for the privat bank i run in SL, NO WAY, oke it can be done,but takes several weeks to clear all the forms, cost are far to high. Not mentioning the lunches i have to pay to dig in :) I sure hope JT can out live this, like all the other honest sl banks at least one bank is closing. 21 of this month is the end of the our story, cash is there to refund all the customers (poor RL wallet) with regards Thoms |
||
| log in to reply | ||
| Jan 9th 2008, 06:07 Servme Nakamura |
Re: Can JT Financial seek an injunction? | |
| Hm... I fear they did think it through :( Could it be that they will be doing the same as they did on the gambling ban : strike down hard and then loosen up later on? If that were the case - and I know I'm making assumptions here - this new policy could be designed to shake the tree violently and everything that falls off and disappears is a benefit. The few that survive would merge or acquire the others until two or three financial corporations remain over which LL has some control or information. Clearly becoming a RL bank is out of the question for anyone in SL, unless you are indeed backed by a RL bank - something that will never happen before January 22nd 2008, which LL definitely knows. |
||
| log in to reply | ||
| Jan 9th 2008, 05:58 Lindsay Druart |
Re: Can JT Financial seek an injunction? | |
| I was told that you have to be a government ratified banking institution and this was my response. "Do you guys realize that no institute will offer a license with the anonymity of SL and any banking institute that does business in SL will lose their license? By law, the person must have adequate information on their customer as provided by the Patriot Act and the Fair Credit Reporting act. You are requesting something that cannot be provided. No banking institution can operate in SL because it would require them to gain RL information about customers which is supposed to be against your TOS. Had you guys thought about that before? I am currently a pending credit union that was supposed to open RL in September 2008 but there is no way we will get our license not because we are dependent upon SL when we were not going to be by September. I would advise you guys to really rethink what you are asking people. My banking system alone cost my around $10,000 USD. Who pays me my money back?? You have punished the legitimate people for a few bad apples." |
||
| log in to reply | ||
| Jan 9th 2008, 03:17 Servme Nakamura |
Re: Can JT Financial seek an injunction? | |
| According to that site, an offshore banking license would cost around L$20,500,000 - and to be quite honest, I'm not all that certain that going for an offshore banking license would be what LL had in mind when they came up with this regulation policy. | ||
| log in to reply | ||
| Jan 8th 2008, 23:42 Cash Yiyuan |
Re: Can JT Financial seek an injunction? | |
| Like this... http://www.bank-license.cx/ |
||
| log in to reply | ||
| Jan 8th 2008, 23:20 Lindsay Druart |
Re: Can JT Financial seek an injunction? | |
| I am submitting a W9 and a bank statement too...geez....this is a lot to go through. no sleep for me...YAY! | ||
| log in to reply | ||
| Jan 8th 2008, 23:16 Lindsay Druart |
Re: Can JT Financial seek an injunction? | |
| Offshore banking licenses would. | ||
| log in to reply | ||
1 | 