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Author	Thread Statistics \| Show CCP posts - 1 post(s)
Bluebeard Minmatar LoneStar Industries Veritas Immortalis	Posted - 2009.08.28 08:39:00 - [1] Originally by: Ray McCormack When the liquidity crisis became apparent several staff and directors deposited ISK into their sweep account to help us out. I allowed them to withdraw that ISK; some did, others didn't. Could you tell us how much isk was put into the Sweep Accounts by the staff at this time.
Bluebeard Minmatar LoneStar Industries Veritas Immortalis	Posted - 2009.08.28 09:09:00 - [2] Originally by: Ray McCormack Originally by: Bluebeard Could you tell us how much isk was put into the Sweep Accounts by the staff at this time. Not precisely, but it was in excess of 45b, over a period of time. Ok, so when it looked like there was a liquidity problem, the staff injected 45bil of their own isk to cover what was hopefully a temporary problem and later on when it became obvious that the problem was serious, you allowed them to recover 28bil of the injected isk ?
Bluebeard Minmatar LoneStar Industries Veritas Immortalis	Posted - 2009.08.28 09:25:00 - [3] Originally by: Ray McCormack Edited by: Ray McCormack on 28/08/2009 09:14:20 Originally by: Bluebeard Ok, so when it looked like there was a liquidity problem, the staff injected 45bil of their own isk to cover what was hopefully a temporary problem and later on when it became obvious that the problem was serious, you allowed them to recover 28bil of the injected isk ? Correct. Edit : I'm not 100% certain on the figures, but they're accurate enough to paint the picture. This makes it look like an interest free loan from the staff, that has been partially repaid, rather than an attempt by the staff to cash out ahead of the other investors. By only mentioning the 28bil repaid, you were seriously asking for a kicking from the (rightfully) enraged investors that are posting in here.
Bluebeard Minmatar LoneStar Industries Veritas Immortalis	Posted - 2009.09.27 18:50:00 - [4] Originally by: Tarinara Originally by: Orexis Kirhal Right... cause your debt is more important to repay first over everyone else's. It wasn't a statement about whether my debt is more important than anyone elses. Looks more like an opportunity for them to unload what is by their own definition, a crappy liability in exchange for wiping out a little over 700mil in liability. But please do continue casting your trolling net about... The problem is, that currently, your isk is worth about 40% of your Ebank balance. I'll show how this is a problem: a) You have a balance of 700mil and ask Ebank to liquidate your assets now (they won't, but assume they will). You get 280mil back to your wallet. b) You ask Ebank to swap your 700mil balance for a Navy Raven. You now have an asset that you can immediately sell for 670mil on contract. You have now recovered about 96% of your 700mil deposit.. Now do you see why other depositers might be unhappy with this deal ?
Bluebeard Minmatar LoneStar Industries Veritas Immortalis	Posted - 2009.09.27 21:30:00 - [5] Originally by: Tarinara Originally by: Bluebeard The problem is, that currently, your isk is worth about 40% of your Ebank balance.<snip> Actually my ISK right now is worth nothing. Because E-Bank has stolen it. And as for your option 'B' - a base CNR hull is only worth about 600mil yesterday. And one stuffed full of CCC rigs or some of the other combinations I've seen are still worth only 600mil. And with Ray's assesment of the fit, I doubt there are modules on it to fill in the other 100. You are now making your case look even worse, as by valueing your isk at 0, you are also valueing my isk at 0 (hint: I have deposits as well) and you are asking to become a preferential creditor, recovering about 90% of your deposits, while the rest of us get nothing. Scream about Ebank all you want, but try to place yourself ahead of the other depositors and you will feel their wrath. (Make a deal for all of us, on equal terms, or wait patiently in line)
Bluebeard Minmatar LoneStar Industries Veritas Immortalis	Posted - 2009.11.11 09:49:00 - [6] Originally by: Krathos Morpheus Originally by: Ray McCormack Originally by: Nano Pope overcollateralized loans Hardly. Your ISK isn't worth what it should be, we're just allowing you to use it's actual value without liquidating or selling it. Hardly. You are actually charging money to use what is not yours, but their own money. Anyone can get 6% interest or less with 100% collateral, but you are charging 6 to 10%, asking for the collateral "to exceed the loan amount in value" and valueing isks at 30% when it's value is 40.33% by your own words. You are overcollateralizing in every step and you are not "allowing people to use the money", you are lending them their own money. So, what you're actually saying, is that Ray has good career prospects if he became a real life banker ?
Bluebeard Minmatar LoneStar Industries Veritas Immortalis	Posted - 2009.11.16 19:57:00 - [7] Originally by: flakeys To each their own and i am not a fan of trolling so not going to say what is good or not about ebank but it really astounds me people still are depositing.Well with that in mind the perception that once ebank unfreezes isk the bank goes down immediatly would then be a wrong judgement allthough quite honestly that is how i felt about it too. Interesting indeed You may find it interesting to know, that in order to pay off a loan, you have to deposit isk into your account and when it has registered, then move it to the loan account. I recently paid off a large loan that I had taken out after the freeze, so some of that movement will be mine.

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