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Closing of those schemes?
published: Wednesday | July 30, 2008

The Editor, Sir:

Over the last four or so years, we witnessed the rise of something too good to be true and, at last, the closing chapters on the saga of the Jamaican alternative investment schemes are finally being written.

We should all be happy about this, regardless of how much money you or your neighbour might have lost. I don't say this with malice, but with reason and here are only but a few:

Jamaica's international credibility was being stretched considerably, not only due to rising crime, but also as a result of these questionable investment schemes; returns were too good to be true, most being funded by questionable activity.

An era of massive regulatory lapses is possibly over and we can return to legitimate long-term investment in the future of the Jamaican economy; again something too good to be true is usually not true.

And lastly, but not exhaustive, all the hurry-come-up forex traders will stop squandering their time and money and return to a more productive life.

Putting these schemes behind us is critically important so that Jamaica can tackle the major task of attracting foreign investment and generating long-term sustain-able growth.

I am, etc.,

GEOFFREY SHARP

sharp.niece@Gail.com

Via Go-Jamaica

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