A chilly wind blows over the UK from Iceland!

wynyardman



Joined: 15/12/2007
Posts: 4580

Message Posted:
09/10/2008 20:54

Here we go again! Icelandic banks collapse owing UK local authorities up to



£1,000,000,000.



Supreme Leader Brown says this is not on, and siezed their UK assets. Icelandic Authorities



say seizure of the assets precipitated the problem. It is the fault of the UK Government!



Local authority chiefs claim that they were advised by John Prescott to invest their funds



there.)in his capacity as Deputy Prime Minister)



Local authority chiefs say that they may have to increase Poll Tax in order to maintain local services.



Icelandic Prime Minister says sue us, that is a civilised way to settle matters.



Now we all know, that the first victim of war....is truth!



In the whole scenario no one has appologised. No one has accepted responsibility.



No one has resigned. It seems to me that we pay leaders, Chief Executives ,Investment



Managers. vast salaries, expences, pensions, to act as professionals in undertaking their



duties in a professionaL manner. Whe

wynyardman



Joined: 15/12/2007
Posts: 4580

Message Posted:
09/10/2008 21:00

When is someone....anyone....... going to accept responsibility for YET AGAIN another



financial debacle.



Who do board members feel should fall on their sword this time?



Mammon..........Nostradamus.....Roll out the prayermats.!!!



What are your views?



wyn

wynyardman



Joined: 15/12/2007
Posts: 4580

Message Posted:
09/10/2008 21:01

Can I start the ball rolling........



Will this posting receive a Frosty reception?



wyn

no1doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
09/10/2008 21:32

Wyn, surely the leaders of the local councils should be held accountable. Don't they have a duty to look after our money. If they ask me for more money I'll give them the cold shoulder!

wynyardman



Joined: 15/12/2007
Posts: 4580

Message Posted:
09/10/2008 21:37

Personally, I would give them "the finger" and I don't mean the fish finger.



wyn

newlad



Joined: 02/03/2008
Posts: 7819

Message Posted:
09/10/2008 21:55

Why not blame John Prescott yn as he seems to get the blame for everything else,

Paul.

wynyardman



Joined: 15/12/2007
Posts: 4580

Message Posted:
09/10/2008 22:04

Spot on Newlad. With prezza.....if the cap fits....



wyn

Coachie



Joined: 29/07/2008
Posts: 2135

Message Posted:
09/10/2008 22:20

Wyn.. This is not some thing new with councils investing there money abroad as wellas in the UK. Pension funds do exactly the same,trying to get the best returns for moneys ,everybody does it and have been doing it for years without any problems,but now we have a problem which was not this governments fault you want to hang every Labour politician from the highest yard arm. would you be saying the same if this had happened under aTory government,I think not.I am not alover of either of these parties,but I think under these special circumstances they should be given the opportunity to see if they can sort it out. We are all the same in some ways especially when it comes down to our brass.If every thing is going alright say nowt,when it goes wrong shout from the roof tops as loud as can,so come on Wyn show a little tolerance at this particular moment and lets see what happens....

wynyardman



Joined: 15/12/2007
Posts: 4580

Message Posted:
09/10/2008 22:34

Coachie,



I stated Investment Managers and Chief Executives. I did not specify any particular political



persuasion. The Government of the day should accept responsibility, especially if they have



told local councils where to invest.



When professionals are engaged one should expect professional performance. Solicitors and



Accountants have to have professional indemnity insurance in case there professional



standards fall below expectations. The deed is done, we are now in crisis again. My



question was should someone not accept responsibility, and be accountable. It is my view



that they should! I have been self employed all my life, and I had to accept responsibility for



my own actions, as well as those of my employees. I certainly never got the rewards, that



these guys (and gals) do.



Just my opinion, that is all!



wyn

Coachie



Joined: 29/07/2008
Posts: 2135

Message Posted:
09/10/2008 22:47

Wyn ..I think in aroundabout way the government has accepted some responsibility because of the amount of public money thats being used to try and salvage the situation.To me the real culprits are the financial whizz kids who created all of this by there shere greed to get obscene bonuses. They have all the information at there fingertips but did nothing to warn any of the governments around the world of the probable repercussions. I liken this to XL situation where afew top execs lived in luxuary when they new their company was going bust,and they new 2years before it happened.Funny how it was an Icelandic Bank they were involved with,but nobody heard any alarm bells going off. I suppose after the fact its easy to say the writing was on the wall then...

fredred


Joined: 09/12/2007
Posts: 89

Message Posted:
09/10/2008 23:10

Coachie well said, the points you made give a fair and balanced view on a very serious problem. Even the Tories and liberals say we have to work together.there will be plenty of time in future to allocate blame when all the true facts come out

MUSIN M


Joined: 26/06/2008
Posts: 1352

Message Posted:
09/10/2008 23:41

simple question guys where is the goverment finding all this money ,not long ago they were telling us that we don,t have any of the green stuff left.



you know what i think ,i think we are all f ....d.

eager


Joined: 23/02/2007
Posts: 1272

Message Posted:
09/10/2008 23:54

Higher taxes are on their way.

MUSIN M


Joined: 26/06/2008
Posts: 1352

Message Posted:
09/10/2008 23:59

eager

higher taxes ,how much higher.

rocky


Joined: 17/10/2007
Posts: 1749

Message Posted:
10/10/2008 00:02

sa shame that the local authorities had money invested in the iceland bank that went belly up, dint they learn from the BCCI some 20 years ago. Gordon Brown lived off the treasure chest left behind by the conservatives now he has been found out, the same thing happened before we never learn do we...

Coachie



Joined: 29/07/2008
Posts: 2135

Message Posted:
10/10/2008 14:25

Musin M...I havent actually heard anyone state that higher taxation is on the way and beleive me if the tories thought there was they would be yelling about by now.In fact I have not heard any member of the tory party actually say what they would have done had they been in power and dont say "It wouldnt have happened" because it would have.This is not a situation created by the UK government but we have become the victoms of the dominoe effect,you knock one down and its bloody hard to stop the rest following.I see in Japan,probably one of the more financial sound econimies has now got banks etc failing. I think we have all just to sit tight and give them a chance to tryand sort it out...

eager


Joined: 23/02/2007
Posts: 1272

Message Posted:
10/10/2008 14:30

When the goverment borrows huge amonts of money to bail out banks, there are normally two ways to fund this, either reduce public spending or raise taxes

Coachie



Joined: 29/07/2008
Posts: 2135

Message Posted:
10/10/2008 14:46

eager.. when he bailed out Northern Rock with public money did your taxe go up ? Mine didnt, and Northern Rock are well on there way to repaying the amount that was required to save them.I am prepared to wait and see what happens before I join The Higher Taxes Brigade Its quite possible that he may yet surprise some of you.

wynyardman



Joined: 15/12/2007
Posts: 4580

Message Posted:
10/10/2008 14:56

Coachie,



Now we are back to the flying pigs syndrome!



Anyone got a fiddle that I could borrow?



wyn

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
10/10/2008 15:13

Coachie, message 18, you mean he's got some more surprises for us?

Coachie



Joined: 29/07/2008
Posts: 2135

Message Posted:
10/10/2008 15:39

Wyn.. If everything was so good under the tory government why were they voted out???If blair and his side kick were that bad they would only had 1term in office not 3.Remember when Major wasnt given acat in hells chance of winning therelast victory he did well the same might occur with Brown you never know!!! perhaps we do need a dour scotsman at the helm instead of a flash harry with a silver spoon in his mouth. Funny folk us Brits,never do what you expect them todo,perhap[s it might be "better the devil we know than the one we dont know"....

paul90


Joined: 07/11/2007
Posts: 350

Message Posted:
10/10/2008 15:46

Iceland is being advertised for sale on Ebay



http://uk.reuters.com/article/topNews/idUKTRE49933R20081010?feedType=nl&feedName=uktopnewsearly

wynyardman



Joined: 15/12/2007
Posts: 4580

Message Posted:
10/10/2008 15:49

Coachie,



You seem determined to make this political.



Blair (see Mandleson) New Labour were voted in because they stole Tory policies and called them New Labour.



Once in power they started to bring in the usual left wing idiocy (see John Prescott).



Then the public wanted them back out as soon as they could see they had been hoodwinked.



Brown became PM without a mandate (would not go to the Country) Now no one wants Labour.



The rest can be seen on Sky News, hourly.........sad isn't it?



My personal views, thats all.................and by the way, I am no Tory appologist.



I was however a Margaret Thatcher fan... before the PC brigade took over.



wyn

wynyardman



Joined: 15/12/2007
Posts: 4580

Message Posted:
10/10/2008 15:54

pau190,



Our Supreme Leader has sent his hit squad across, to sort them out.



Perhaps they will get it in part exchange for The Local Authority debt.



I wonder if we could get a reindeer in px also. My grandaughter would love that!



wyn

Coachie



Joined: 29/07/2008
Posts: 2135

Message Posted:
10/10/2008 16:11

Wyn ...I am not being political but like youself airing my opinion on one or two items as for you being a Maggie fan well we all have a cross to bear in one form or another...

Elliecy


Joined: 21/07/2008
Posts: 153

Message Posted:
10/10/2008 16:23

I am certainly not a Labour fan, however I think the Goverment are handling this whole situation very well. As for accepting responsibility, Iceland doesnt even know the meaning of the word! Under the circumstances I think Brown/Darling are correct in their actions. In this day and age, it is unreasonable to think that people/companies will not have foreign investment. It is also unreasonable to lay the blame for this right at the Governments door. As for higher taxes, so far this has not actually been mentioned. Yes, the media etc are speculating, but that's all it is at the moment - speculation.

Coachie



Joined: 29/07/2008
Posts: 2135

Message Posted:
10/10/2008 17:00

Elliecy..Thank you! thank you!! This is what I was trying to say In my earlier posts...

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
10/10/2008 18:25

Elliecy. I fear there is no other way but to increase taxes. How else are they are going to repay the loans that they have taken. Ok, some of the money has come from reserves but a lot of it has been borrowed, hasn't it?

Coachie



Joined: 29/07/2008
Posts: 2135

Message Posted:
10/10/2008 21:39

No1 Doyen ..I didnt propose you for Chancellor for you start spreadig malicious rumours....

wynyardman



Joined: 15/12/2007
Posts: 4580

Message Posted:
10/10/2008 21:43

Reserves.......see PFI debt........What reserves??



wyn

wynyardman



Joined: 15/12/2007
Posts: 4580

Message Posted:
10/10/2008 22:14

No1 Doyen,



Disregard,......bloody control freak!



wyn

phylray



Joined: 21/09/2007
Posts: 1727

Message Posted:
11/10/2008 00:35

All parties support the measures taken by government, but I do feel

a bit sorry for Iceland, a small country, small population, which will suffer

far more than we who have had it so good for so long.

no1doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
11/10/2008 00:38

Let's have a whip round for the Icelanders!

wynyardman



Joined: 15/12/2007
Posts: 4580

Message Posted:
11/10/2008 00:53

Phylray,



I may be viewing this simply. Small Country they may be. Banks offer high interest rates.



British Local Government and charities invest heavily.



Lend vast amounts of our money to Bauger, who then buy up large chunks of The British



High Street. Banks then go belly up and say they cannot pay money back. Go into



Administration.



Bauger left owning large chunks of the British retail High Street outlets.



Supreme Leader Brown, does his nut, and uses Anti Terrorist Legislation to seize all



Icelandic assets in UK. Icelandic Prime Minister incandescant with rage over our Supreme



Leaders actions. Supreme Leader Brown sends large delegation to threaten little country



and demand our money back.



The show goes on!............Cod wars 2?



wyn