THE States has come under heavy criticism in the national press for not supporting investors who lost money in the Landsbanki collapse.

An article in The Times on Saturday launched an attack on the way Guernsey’s government dealt with the banking crisis and said the message to UK savers was clear: ‘If you value safety, you should give offshore banks a wide berth.’ . .

The Isle of Man was at least trying, he said. . .‘However, even faint praise cannot be extended to the Guernsey authorities. Worried about the damage to the island’s reputation, it has belatedly introduced a hopelessly inadequate compensation scheme, but it is not open to the Landsbanki victims.’  28-Sep-09.

http://www.thisisguernsey.com/2009/09/28/give-offshore-banks-a-wide-berth/