People’s fatigue never bothered the Labour Party, did it. They kept at it 24/7 on all media, with matters as trivial as the most notorious clock in the history of the world.

I agree that the Opposition is not doing enough, possibly because they sense in people an element of ‘Panama fatigue’ and the Eurovision Song Contest was a useful short term distraction. On the latest revelations, however, I would expect that the pressure will build up in the coming days.

No. They should have been out raising hell today, in person and on their media, given the shocking stories in The Malta Independent and The Sunday Times, and my report a couple of days ago that the Prime Minister’s chief of staff has yet another secret offshore company, in Gibraltar. What are they doing today, having lunch and talking about Ira Losco?

That makes the bank’s position rather weak. Stocks or any movable assets do not fetch much under a forced sale and guarantees/insurances cannot be worth that much either. Still, the bank’s best bet would be to foreclose, hoping that Schembri would want to save the day by moving his operation elsewhere.

As a Bank of Valletta depositor, this really concerns me. The question is, should I move elsewhere?

If I and others do the same, and create a potentially temporary liquidity problem, what will the Central Bank under a Labour government do THIS time?

You’re completely wrong about the security for the loans. I reported on this a few days ago after going through Kasco Holdings Ltd published financial statement for 2014 (the most recent). Despite owing the bank millions – at least six million euros ofor Kasco Holdings alone (there are other related companies which Schembri also owns and which owe more) – none of it is secured on immovable property or any properly saleable assets. It’s secured on the company’s stock – a load of paper and chocolates, anyone? – machinery, vehicles and so on. And get this: PERSONAL guarantees by Schembri himself and “insurance policies”. There’s no way on earth the bank can get its millions back out of that. The bank’s shareholders should be asking some proper questions – but the board of directors should be doing that first.

That is what it looks like. Never underestimate the power of auto-censorship. Back when I wrote for them, we all knew that you couldn’t touch Guido Demarco, for instance. There were no instructions not to touch him. But you knew you had best not.

Bear in mind that they are crooks. The concerns that upset the rest of us don’t upset them.