Wednesday, October 8, 2008

do we know whcih councils put our money in this bank?

councils invested in Iceland's banks.

But at least 20 councils in England and Wales are known to have deposits in Landsbanki - some of tens of millions.

Posted by mark @ 06:17 PM (1042 views)
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20 thoughts on “do we know whcih councils put our money in this bank?

  • Whostolemyendowment says:

    Why not deposit in UK banks…..rather than chasing a few fractions of % abroad? As the old saying goes ‘never put all your eggs in one basket’….unless you’re going to watch that basket very carefully.

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  • this could be your local council, maybe no waste collections or street lights soon………….

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  • More to the point, what the hell are councils doing with such massive surpluses?

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  • will our rates go up?

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  • It was on Channel 4 news tonight… didn’t pay too much attention but they were mainly located in the South I believe. Herfordshire was one of them. Some female who was interviewed did suggest that rising council taxes were not totally out of the question but that they hoped that this would not be necessary…mmmm.

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  • that was only the ones they know about, I bet there are a lot more…….

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  • Kent County Council I suspect would be one of those heavily exposed

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  • Westminster council (£17m), Sutton council, Brent council amongst others…

    Oh dear….

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  • All I have ever wanted from my council is for them to empty my bins, supply police and maybe stock a library. If they have money to invest it means they are taxing me too much. Now they’ve lost my tax!

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  • next we will be bailing out councils

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  • mark, I think we’ve been bailing out councils for decades.

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  • Joke

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  • will this mean reduction of council staff soon? or pensions…

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  • Did anyone see the chap from Westminster council on C4 news? Quite content that he had only lost 5 % (or £17m) and that it wasn’t a bad decision… nice to go back to hating Government as much as Bankers. Try explaining it to the old peoples homes and community centres that have to close … Why so calm, I think partly because he knew that they will get a bail out as well, whats another few billion anyway?

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  • Terry Wogan was all up for restarting the Cod Wars this morning ‘send a couple of gun boats up there and grab whatever we can of value, and as many fish as we can carry’ … I’m up for that, it could be Gordons Falklands moment!

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  • 11. mark said…will this mean reduction of council staff soon? or pensions…

    They have no option, other than to give the chief accounts the bullet, sealed tenders, and reduce
    staff. Jobs for the boys are out, along with the bribes. They have to construct a deflationary
    model for rates, yet they only know how to increase inflation and rates. Specialists in
    investments and useless at economics, always pretending to be poor, demanding more money
    from central government, while shifting our taxes offshore. Sedition and crooks, send them to the
    Ravens at the Tower of London.

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  • gardeniadotnet says:

    @down wave…They have to construct a deflationary
    model for rates, yet they only know how to increase inflation and rates…

    So true! It will be fascinating to watch this chapter develop.

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  • Kent County Council £50m in Iceland-based banks

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  • They can keep our money where ever they like….

    but don’t you dare put your empty bottles in the black bin!

    Also, from a HPC perspective, does this mean they have no money left to buy empty flats for council tenants?

    My vote for the new NuLabour theme tune – Kaiser Chiefs ‘I Predict A Riot’.

    “Oooh watchin the people get laairy……”

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