Council money invested in Icelandic Bank

[Deluks]

Countries going bust? Sounds like the ideal time for a takeover,
WW3 anyone?

I'm in! Sadly though none of us can afford to buy any bullets, what with our credits being crunched. Have you seen the price of metal these days?

 

[^woody^]

WW3 anyone?

You're joking, have you seen the price of bombs these days?

But yes, we could always take over some neighbours ... like Scotland and Wales, and impose prescription charges, or remove some of their other free stuff, and rake the money in.

 

[Bilioustrumpstaine]

They have been putting cash into the Icelandic banks because of the relatively high rates of interest. What else are they meant to do with it, put it under the mattress?

Was that the only two options

I can see the council meeting now.....so we have £50,000,000, what shall we do with it....well.....you could put it under your mattress..or...put it in an Icelandic bank..hmm (with a relatively high level of F all)


Greed brings its own rewards.

 

[Softus]

they basically put money they keep in reserve for unforseen events etc in various investments. up until a week ago they were viewed as one of the safest, but still providing a very good return on the money. they are trying to maximise the money they have by investing it while they hold it.

The voice of reason there, alone in a sea of pathetic, whining, hypocritical nonsense.

Which one of you moaners can honestly claim that, in the absence of a credit crunch, if it were uncovered that LAs were not making best use of our money, you wouldn't have been critical of that failing?

Not one single institution, or governemnt, or expert, understood the risk or foresaw the severity and impact of the current crisis, and yet a bunch of you expect amateur investors to have behaved differently.

F***wits.

 

[toptec]

I had a little bit of hard earned to invest in Feb this year. Went on Moneysupermarket.com and all the other sites. Iceland were at the top of the table interest rate wise.

I was considering it but then saw a Channel 4 news report in March about the state of the Icelandic economy. The Minister for finance fudged all the questions. Got a little hunch things were not well, there was some confusion about the compensation scheme so went with a Brit bank instead.

Now I find my Council lost 4 million. If I can find out Iceland was all mouth and no capital from a little research why didn't the Council! I reckon the Finance Director should foregoe his bonus this year.

Bunch of wally's.

 

[Bilioustrumpstaine]

they basically put money they keep in reserve for unforseen events etc in various investments. up until a week ago they were viewed as one of the safest, but still providing a very good return on the money. they are trying to maximise the money they have by investing it while they hold it.

governemnt,

F***wits.

Please explain what a governemnt is.

 

[Softus]

It's a word written in a hurry.

A bit like cretni.

 

[Blasphemous]

Please explain what a governemnt is.

Oh dear what a silly boy Bilioustrumpstaine... Reassemble this well known saying to learn how you shall be treated by Softus following your comment...

a hawk like you watching

You'll be Sooorrryyyyy!!!

 

[Softus]

 

[Bilioustrumpstaine]

Please explain what a governemnt is.

Oh dear what a silly boy Bilioustrumpstaine... Reassemble this well known saying to learn how you shall be treated by Softus following your comment...

a hawk like you watching

You'll be Sooorrryyyyy!!!

I know that Softus is a big softy at heart and not one to bear a grudge. He can take a bit of fun being poked at him like the next man.


Now where is that spill chuck buttom.

 

[Softus]

Very amusing. I am hereby amused.

And now: an interlude.

...and here's Sylvia's kitten:

 

[Blasphemous]

Now where is that spill chuck buttom.

Doh!!! I was thinking 'spill chuck buttom' what's one of them? Its late! I'm off ta bed. Night all.

 

[ellal]

Not one single institution, or governemnt, or expert, understood the risk or foresaw the severity and impact of the current crisis, and yet a bunch of you expect amateur investors to have behaved differently.

F***wits.

*hand up*

please mr softus, someone here was warned several months ago to get their money out of iceland...

(it helps to have a friend of a relative working in their treasury department.. )

so someone knew!

 

[Softus]

Not one single institution, or governemnt, or expert, understood the risk or foresaw the severity and impact of the current crisis, and yet a bunch of you expect amateur investors to have behaved differently.

someone knew!

Yeah, no matter what the crisis, there's always someone who knew it would happen.

But you believe that "someone" in the Treasury "knew" that the current crisis was going to happen, and did nothing about it except talk to their friends?

Well that's a competent person to have in the civil service. Not.

 

[ellal]

Yeah, no matter what the crisis, there's always someone who knew it would happen.

But you believe that "someone" in the Treasury "knew" that the current crisis was going to happen, and did nothing about it except talk to their friends?

Well that's a competent person to have in the civil service. Not.

Over there is a different type of 'grapevine' - because unlike here, you are usually only one or two links away from someone working in a place that has access to some useful information..

But tell me - what would have happened if government officials had come out and told the real story publicly...?

panic of course, which is what we are getting now but it's more of a 'drip drip' effect as the true extent of the debts are revealed more slowly.

and the money I moved out at that time is probably not that much safer where it is now - because no-one is now sure if there is ANY safe banks left, not trying to spot a dodgy one!