Did you know, that former NCB head Jeffrey Cobhan said that lower FINSAC rates could have saved local firms?

However, he said, that while the situation was constantly discussed with the then Minister of Finance and Planning, Dr. Omar Davis, and Bank Of Jamaica Governor, Jacques Bussieres, the pleas of the indigenous institutions 'fell on deaf ears'.

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National Commercial Bank (NCB) was one of the few indigenous financial institutions to survive the meltdown, but did so with $19.1 Billion worth of support from FINSAC, which has lead to
charges by other institutions that it was treated more favorably, because of it's connections with the government.

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Dr. Davis told the Commission that NCB was 'too big' to be allowed to collapse.