The collapse of Kaupthing Singer and Friedlander could have been avoided, if the authorities in the United Kingdom had been more proactive.
That was the main message in Treasury Minister Alan Bell's evidence to the Tynwald Select Committee which is examining the crash of the Manx bank.
Following on from the evidence given by chief executive of the Financial Supervision Commission John Aspden and the KSF directors, Mr Bell described how he had been taken aback by the sudden announcement of the liquidation of the bank.
He told the committee he was sure it could have been saved if the UK authorities had worked with the Isle of Man:
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