{"id":389467,"url":"http://info.mzalendo.com/api/v0.1/hansard/entries/389467/?format=json","text_counter":140,"type":"speech","speaker_name":"Eng.) Gumbo","speaker_title":"","speaker":{"id":24,"legal_name":"Nicholas Gumbo","slug":"nicholas-gumbo"},"content":"Strengthening of such institutions should include remedies that aim to provide answers to depositors, for example, when those institutions go down in a short time. You will recall that in Kenya, we had institutions that collapsed more than three decades ago but up to now a number of those institutions--- Most depositors, some have even died, have not even received 10 per cent of the deposits they had when those institutions collapsed. As a result, all these families that had been promised many years ago are now living in penury and this is something that we need to avoid. Of course, again you know if I am paid 30 years after a bank collapses, the time value of money alone makes what I The electronic version of the Official Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor."}