Thursday, October 9, 2008

The full list, I reckon it might grow yet.

In full: Councils facing losses

Here are the councils known to have deposits in the collapsed Icelandic bank Landsbanki or its UK arm Heritable, or in other threatened Icelandic institutions:

Posted by mark @ 05:00 PM (571 views)
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6 thoughts on “The full list, I reckon it might grow yet.

  • Whostolemyendowment says:

    But what other non-UK banks are they in, what other overseas investments, etc? I bet that there are a few sweaty financial dept heads right now!

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  • I misread it – I thought it said “Councils facing job losses”!

    To think that someone working for a council might actually be held responsible for their actions and lose their job and copper-bottomed pension!

    Silly me.

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  • Hmmm..

    Iceland a centre for terrorism? Maybe Osama Bin Laden is there?

    Just thinking about S2R1 better watch his mouth and keep his mayan calendar safe, otherwise he might be locked up on the grounds of “terrorism”.

    Simply Amazing.

    But these councillors thought that a bank in Iceland was safe. They would have been better off taking a leaf out of the ultra rich and open an account in Switzerland or other safe havens.

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  • Paul – too right. Job losses for failure? What an old-fashioned concept!

    Today we have more “Noone could ever have foreseen” nonsense from the so-called experts. The Icelandic banks have been considered at risk for some time – I looked into where to invest some savings a few months ago and because of the warnings I didn’t go for their deals, even though they were the best on the market.

    No point in switching on the news to get any sense of reality any more – it just provides a good insight into how weak and misleading MSM analysis really is.

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  • I guess that this gives the councils a right to increase the Council Tax.

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  • All councils should pull all funds invested in banks into NS&I. But I bet they’ve tied themselves in.

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