As I recall,
the one re-negotiating the deal with VAT was one person GN..:cool:
and BM expressed that we would lose TOO MUCH...IF we entered that deal...looking at the history of GN...go figure..! :eek:
:cool: :smiley: Largo:smiley: :cool:
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As I recall,
the one re-negotiating the deal with VAT was one person GN..:cool:
and BM expressed that we would lose TOO MUCH...IF we entered that deal...looking at the history of GN...go figure..! :eek:
:cool: :smiley: Largo:smiley: :cool:
Sorry Largo I dont understand how we could have lost "to much" by signing up to vat products.Do you mean the deposit monies?Quote:
Originally Posted by Largo
In any event,had withdrawals started through vat, this 6 month shutdown would have probably not been necessary.This period has done little to enhance pips reputation or profits.
No doubt the truth will come out soon.Hopefully BNM will finish before Mr Platts book is all over the internet.
Dreamer WROTE:
"Sorry Largo I dont understand how we could have lost "to much" by signing up to vat products.Do you mean the deposit monies?"
How about "A SIGNIFICANT 8 FIGURE AMOUNT"...AND losing the right to use any other vendors..?
Just MY OWN Thoughts
:cool: :smiley: Largo:smiley: :cool:
So you are saying that VAT were "doing a stormpay"?
Well the $50.000.00 required for the vat contract would have been cheaper than $600,000.00 damage to pips property and 6 months lost income (so far) .Quote:
Originally Posted by Largo
I cant comment on other processors, since I know of none at all.
edited to make sense,sorry.
That's the weirdest "8 figure number" I've ever seen...Quote:
Originally Posted by Dreamer
What's it suppose to be?
Fifty thousand to that of SIX hundred thousand....well, its quite a gap...!
YB.
So which is it?orQuote:
Originally Posted by Largo
and does it even matter now?Quote:
Originally Posted by YogiBrood
Oh yeah.... we are quite off topic, too.
Sorry Yogi :redface: should have explained better.Quote:
Originally Posted by YogiBrood
The $50K was the deposit required by vat industries.
The $600K is damage done to the bistro as reported by Bryan.
Six months loss of trading,well you estimate it.
$50K was a cheap option and would have made withdrawals possible.I will say though, it may well have led to stormpay type problems.On the other hand, probably no BNM investigation.
Hard choice.
We will never know if VAT products would have been a lasting solution and btw I was informed that the fees they were requesting were gigantic.
Overall damage to pips members because of this might have grown way, way higher that the amounts you state here.
Anyway, like I said, we will never know as VAT products is history (at least in relation to pips).