Reply to: Town halls - they went to Iceland

[Stan.goodvibes]

"Local government finances are now at risk," he said. "The Government needs to stop dithering and clear up this uncertainty," Mr Pickles said.

He warned that if the investments could not be recovered, residents could face council tax increases or cuts in local services.


Oops. If Golden-Brown can't sue the Icelandic Govt for the money it looks like you guys might be dumping your rubbish in a big pile at the end of the street, paying 20 quid to park your car for 1/2 hour outside Waitrose, and stumping up several thousand quids for council tax every year.

Oh well, it *is* Year of the Rat this year isn't it?

[Cyberman]

No, he's no use at all; the hilarious thing is that anyone thinks any Tory would be any better after Chancellors like Lamont, Lawson and Major. The tragedy is that Vince Cable is marooned in an equally useless party with no hope of government as he does seem to have some idea what he's on about.

[edit] I was just pointing out Tories can be, as you put it "staggeringly incompetent" too

I have never experienced the Tories being as incompetent as this lot, in decades. They turned the economy round after the recession of 1992 and Labour inherited a growing economy.
When Labour can deliver a growing economy to the Tories you may have an argument, but I fear an even worse scenario than when Callaghan, Healey(Mr IMF!!) etc handed over in the 70s. I simply do not think it is possible ever for a Socialist government to deliver anything within budget, and thus to grow an economy in the long-term.

[Peoplesoft bloke]

Everybody think that Labour politicians are brilliant and that Brown can do no wrong on the economy.

No, he's no use at all; the hilarious thing is that anyone thinks any Tory would be any better after Chancellors like Lamont, Lawson and Major. The tragedy is that Vince Cable is marooned in an equally useless party with no hope of government as he does seem to have some idea what he's on about.

[edit] I was just pointing out Tories can be, as you put it "staggeringly incompetent" too

[TimberWolf]

Shame King Cnvt isn't here to give you a definitive answer.

Why did he get banned?

[Cyberman]

Kent's run by the Tories so that can't be right - anyone knows only Labour politicians can be useless.

Everybody think that Labour politicians are brilliant and that Brown can do no wrong on the economy.

[Cyberman]

Warnings in the press? Well definitely everyone should move tens of £millions based on that. The idea that a whole country was going to go bankrupt and not honour investments was probably not something that was taken seriously...

I was advised by a friend to put money in Icesave months ago because of the high interest rates on offer. Then I read warnings in the media and decided to put it elsewhere(HSBC and Nationwide) for a lower rate but greater peace of mind. It did not take a genius to realise that UK banks are probably safer. Northern Rock was offering 100% of deposits guaranteed for heavens sake!!!!

Iceland is a whole country BUT with no intrinsic wealth and probably with the economy the size of a large county in the UK. To put money in there, when we have had banks and other financial institutions going to the wall for over a year was plainly stupid.

[DimPrawn]

I am sooooooo glad I walk and Tube-it these days. The fun went out of driving about 15 years ago: I got about 2 years' enjoyable motoring after passing my test (I passed it late on), and then it all seemed to go a bit crap. Don't miss it anymore: so many tw@ts on the road,and I don't mean the usual BMW owning nutters; I mean every f--ker, grannies, kids, the whole lot, driving aggressively - I suspect it's down to clogged roads and stress levels, or just because we are, now, a nation of cnuts.

I suspect the latter. Shame King Cnvt isn't here to give you a definitive answer.

[Peoplesoft bloke]

There were warnings in the press about Iceland months ago. Why on earth did these authorities not move their funds into a UK bank at the very least, and at best into the Rock ??!! It is truly staggering incompetence.

Kent's run by the Tories so that can't be right - anyone knows only Labour politicians can be useless.

[Bob Dalek]

I am sooooooo glad I walk and Tube-it these days. The fun went out of driving about 15 years ago: I got about 2 years' enjoyable motoring after passing my test (I passed it late on), and then it all seemed to go a bit crap. Don't miss it anymore: so many tw@ts on the road,and I don't mean the usual BMW owning nutters; I mean every f--ker, grannies, kids, the whole lot, driving aggressively - I suspect it's down to clogged roads and stress levels, or just because we are, now, a nation of cnuts.

[swamp]

It's OK the councils have a plan:

http://www.dailymail.co.uk/news/arti...ffic-jams.html

[DimPrawn]

Warnings in the press? Well definitely everyone should move tens of £millions based on that. The idea that a whole country was going to go bankrupt and not honour investments was probably not something that was taken seriously...

We were talking about the serious risks of Icelandic banks back in 2007, and quite often too. It was common knowledge in publications such as Money Week that Iceland itself was going to go bankrupt.

http://forums.contractoruk.com/304012-post8.html

HTH

[AlfredJPruffock]

There were warnings in the press about Iceland months ago. Why on earth did these authorities not move their funds into a UK bank at the very least, and at best into the Rock ??!! It is truly staggering incompetence.

Because is was other people's money.

[d000hg]

Incompetence. Theres something you wouldn't expect from local politicians.

Not to mention all the CUK members who have money in Icelandic banks and moved it at the last minute (or not at all).

[d000hg]

There were warnings in the press about Iceland months ago. Why on earth did these authorities not move their funds into a UK bank at the very least, and at best into the Rock ??!! It is truly staggering incompetence.

Warnings in the press? Well definitely everyone should move tens of £millions based on that. The idea that a whole country was going to go bankrupt and not honour investments was probably not something that was taken seriously...

[Stan.goodvibes]

There were warnings in the press about Iceland months ago. Why on earth did these authorities not move their funds into a UK bank at the very least, and at best into the Rock ??!! It is truly staggering incompetence.

Incompetence. Theres something you wouldn't expect from local politicians.