Council money invested in Icelandic Bank

[Softus]

FACT: you said that Oakeshott never asked a question

That's the opposite of a fact.

Please explain why you consider his question to be a warning, bearing in mind that it isn't one.

Oh, and now he did ask a question didn't he - so which is it?...did he or didn't he?

Just get on with the explanation.

But he also asked other questions regarding the Icelandic situation

So what? What was the response, and why do you regard the response as unsatisfactory?

... and warned that "Alarm bells were ringing all over about the Icelandic banks and the Treasury must have been blind and deaf not to hear them."

Is that "warning" recorded in Hansard?

And when you've finished imagining contradictions in my posts that don't exist, perhaps you'll find time to actually answer the questions I've asked you.

 

[Norcon]

Softus wrote

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.

Amateur investors most probably but they have access to financial advisers.
Standard and Poor's warned them that Iceland was a financial basket case over a year ago.
One word sums it all up.
GREED !.

F***wits

So us F***wits have every right to expect them to have behaved differently.

 

[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.

Amateur investors most probably but they have access to financial advisers.

I think that's a good point.

Is the solution to this problem in the future for any custodian of some of the public purse to consult and/or publish intent before committing to any particular investment?

Standards and Poor's warned them that Iceland was a financial basket case over a year ago.
One word sums it all up.
GREED !.

I don't entirely agree with that, because it doesn't properly describe the desire of councils to get a good rate of interest on the money they hold. Many, if not all, councils complain about insufficient funding and government subsidy, so it's natural for them to eke whatever they can out of what they've got. I feel that councils are too easy a scapegoat, especially since greed (in the guide of capitalism and a market economy) has become a national economic fuel.

 

[Sylvan Tieger]

Three years ago I invested in copper tubing I paid $3.19 for 5/8 x 10 ft lengths and spent $30,000 on the gamble that prices would sky rocket

Now it is over $12.00 for the same copper thus I am selling it off cheaper then the plumbing supply houses and have to say CREDIT CRUNCH is GREAT and as the world plungers into financial ruin people will still need water and heat thus the trades will THRIVE as the white collar folks head for a major depression.

The games have finally begun.. TIME to give the royal family a raise for a cost of living adjustment and the poor blokes in Australia who had their guns confiscated cannot even hunt for food...

Let the food riots begin as the civilized world faces food shortages...MAD MAX is heading to your neighborhood .. Prepare to storm the banks for useless paper COPPER RULES

 

[Norcon]

The next few years is going to sort the wheat from the chaff.

 

[Sylvan Tieger]

Wasn't the last great crash in 1929 the prelude to WW2 ?.
WW3 anyone ?.

War creates jobs and seeing as how England is disarmed I guess you blokes will have to contact China to buy on credit SKS and Saiga guns 7.62 x 39 that is of course if your not fighting China.

War is another way to keep population down and thinning the heard as you folks say.

War takes scrap metals and turns it into tanks and ships and engines and bombs.

Now with gas prices out of control I think it would be cheaper to have trench warfare back to mustard gas and folks who strap a bomb on their backs and walk into a school house or get on a bus / train

Another sad fact is as the economy is now in the toilet it is inevitable that crime is going to sky rocket with knife attacks and the elderly have no means to protect themselves WELCOME TO THE NEW WORLD ORDER of

"Citizens of the world" want to decrease spending.... RAISE TAXES

Your government like mine knows better how to handle our money

The bottom of the stocks dropping has at least another year or two to reach bottom... NO more loans, higher fuel charges and more taxes sounds like a true socialist society to me as the governments give out your fair share to the needy.

At least I do have the option to hunt deer and put food on the table.

 

[Softus]

I suppose it was only a matter of time before guns cropped up in a discussion about Icelandic banks.

 

[BOB D.O.L.E]

Tried to cash a cheque friday but the Bank bounced.

 

[mark vincent]

Why are people so upset about their bank accounts being frozen, it isn't called Iceland for nothing you know.

 

[hairyben]

while the councils frittering away a billion of our hard earnt in dodgy banks is annoying, lets be philisophical, they'd have only wasted it. Now they have less to spend on green tarmac, speed bumps, diversity awareness courses, self-congratulating "newsletters" etc etc etc.

 

[Softus]

while the councils frittering away a billion of our hard earnt in dodgy banks is annoying...

Excuse my ignorance on the frittering, but have the councils actually lost the money completely, or it just frozen at the moment pending the resolution of the guarantees and/or recovery of the Icelandic bank?

 

[Softus]

Please explain why you consider his question to be a warning, bearing in mind that it isn't one.

Oh, and now he did ask a question didn't he - so which is it?...did he or didn't he?

Just get on with the explanation.

_______________

But he also asked other questions regarding the Icelandic situation

So what? What was the response, and why do you regard the response as unsatisfactory?

_______________

... and warned that "Alarm bells were ringing all over about the Icelandic banks and the Treasury must have been blind and deaf not to hear them."

Is that "warning" recorded in Hansard?

_______________

And when you've finished imagining contradictions in my posts that don't exist, perhaps you'll find time to actually answer the questions I've asked you.

 

[ellal]

Ah, the village idiot returns..

So what questions were they exactly..?

Oh, I know - they're the ones that when you don't get the answer you like you consider them unanswered.

 

[Softus]

Ah, the village idiot returns.

If I were you, then I'd suggest that the only logical recipient of that description is you, since you've not posted for several days.

So what questions were they exactly..?

You merely have to move your eyes up the page to see them.

Oh, I know - they're the ones that when you don't get the answer you like you consider them unanswered.

Actually, any truthful and accurate answer would do, as long as you can produce one without inane mocking remarks.

 

[ellal]

Actually, any truthful and accurate answer would do,as long as you can produce one without inane mocking remarks.

I guess that's what so many here are awaiting from you...