ICELANDIC BANK BAILOUT
THE UK GOVERNMENT CONSPIRES WITH THE ICELANDIC GOVERNMENT TO MAKE THE ICELANDIC TAXPAYER PAY FOR IRRESPONSIBLE AND UNPROFITABLE PRIVATE INVESTMENT BANKERS.
Confidential Feb 25 offer (conveyed around 10AM, GMT) from the Icelandic Icesave negotiation team to their British and Dutch counterparts. Iceland agreed to cover all monies associated with the UK-NL Icesave payouts, but forcefully objects to a 2.75% “profiteering” fee demanded by UK-NL over and above base interest rates.
Just goes to show how in touch and democraticly representative of the Icelandic people, the Icelandic government, are! The Icelandic government is conspiring with the UK government to make the Icelandic taxpayer foot a bill they did NOT make or even OWE!!!
FORTUNATELY ICELAND IS A SMALL COUNTRY SO ITS GOVERNMENT IS ALSO SMALL ,AND TRUE FREEDOM , NOT THE FREEDOM YOU SEE ADVERTISED ON TV, IS STILL ALIVE IN ICELAND .DIRECT DEMOCRACY AND THE VOICE OF THE PEOPLE SPEAK
Icelanders have resoundingly rejected a plan to repay £2.3 billion in savings to the UK, prompting Chancellor Alistair Darling to state that the British Government could be “flexible” over repayment terms.
With all but 2,500 of the 143,784 ballots counted,93% had voted “no” with just 1.8% in favour of reimbursement to the UK and Holland governmentsfollowing the collapse of savings bank Icesave.
The Treasury was understood to be “disappointed” but “not surprised” at the result.Mr Darling insisted that getting the money back was the “fundamental point” but added that it could take some time
MR DARLING HAS TROUBLES WITH COMPREHENSION.ICELANDIC TAXPAYERS ARE NOT GOING TO PAY, NOT NOW ,NOT IN THE FUTURE. THERE IS NO LEGAL OR MORAL COMPUCTION TO DO SO. IT IS THE DEBT OF PRIVATE ICELANDIC BANKS AND THIER PRIVATE INVESTORS NOT THE ICELANDIC TAXPAYER!!!
There should of been BY LAW a fund to cover bank runs and any private savings up to £50,000.So why do we need to bailout any bank? Let the irresponsible and unprofitable banks fall ,it is the laws of capitalism after all.
1.Availability of credit allows money to flow between savers and borrowers.
2.Resources and funds are allocated to various projects or investments during a boom phase.
3.Eventually borrowing becomes excessive and leads to malinvestment,
4.At this stage, adherence to free market theory would allow for an efficient cleansing period and a healthy recovery period. How? Irresponsible and unprofitable businesses fail. Bad debts get liquidated. Excess resources go on sale, flow into more stable ventures and pool together with more profitable resources controlled by healthy corporations or entities
ANOTHER REASON WHY ICELANDIC TAXPAYERS WILL NOT PAY FOR CORRUPT BANKERS IS ,IF THEY PAY THE UK AND HOLLAND WHAT ABOUT THE REST? 38 BILLION EUROS!? ICELAND HAS NOT A HOPE IN HELL OF PAYING THIS!!!!
Over 40 billion euro in 28167 claims made aganst the Kaupthing Bank, 23 Jan 2010
This document contains a list of 28167 claims, totaling over 40 billion euro, lodged against the failed Icelandic bank Kaupthing Bank hf. The document is significant because it reveals billions in cash, bonds and other property held with Kaupthing by a vast number of investors and asset hiders, including Goldman Sachs, Deutsche Bank, Credit Suisse, Morgan Stanly, Exista, Barclays, Commerzbank AG, etc. It was confidentially made available to claimants by the Kaupthing Winding-up committee
WHY HAS THIS BANK NOT BEEN CLOSED ,ITS DEBTS LIQUIDATED ,ITS ASSETS SOLD AND ITS PRIVATE SAVERS PAID UP TO £50,000 FROM THE FUND ITS LEGALLY REQUIRED TO KEEP?? COULD IT BE BECAUSE THE ASSETS BELONG TO GOLDMAN SACHS AND HIS BAILOUT BUDDIES AND THEY WOULD RATHER GET THE TAXPAYER TO PAY FOR THIER IRRESPONSIBILITY?!
In reality the price of political bribes these days are very cheap!!!! Its only £5,000 to meet Tony Blair and save the company millions!!! I wonder how much it was to get the politions to agree to make the taxpayer pay for the bailout?
MPs stuck in the lobbyist mireIt is 16 years since the MPs’ cash-for-questions scandal but standards in public life still fall short
It is 16 years since the Guardian uncovered cash for questions and a group of Conservative MPs prepared to go lobbying on demand; 16 years since a Sunday Times sting found too many “honour- able members” ready to put their hands in the cookie jar; 16 years since an embattled John Major set up the Committee on Standards in Public Life to make our democracy a purer, more ordered thing. And here we go again. Another sting: another stench.
Try examining yesterday’s Channel 4/Sunday Times exercise in the kindliest light. Not all of the MPs approached by a phoney PR company took the bait. Nobody did anything illegal. Some responses were more pathetic than menacing. Margaret Moran – on her way out after the expenses debacle – offered to ring up a “girls’ gang” of MPs to push an appropriate cause. Geoff Hoon confessed wanly: “I’ve got two children at university, so I’ve got to get a job.”
The top name on this lousy list, Stephen Byers, made an ass of himself: “I’m like a cab for hire – at £5,000 a day.” Maybe the stuff about pushing Lord Adonis to go easy on National Express was merely more promotional blah – though his claims there, filmed and recorded before being hastily withdrawn, ought to be investigated
BUT IT DOES MAKE YOU THINK, IF ITS ONLY £5,000 TO SEE TONY BLAIR AND SAVE MILLIONS AND MAKE LORDS AND LAW MAKERS GO EASY ON YOUR COMPANY…HOW MUCH MONEY CHANGED HANDS DURING THE BANK BAILOUT?!?!
Health interests spent more on Federal lobbying than any other economic sector. Their $478.5 million guaranteed the crown for the third year, with the finance, insurance, real estate sector a runner up, spending $453.5 million. The pharmaceutical/health products industry contributed $230.9 million, raising their last eleven-year total to over $1.6 billion. The second-biggest spender among industries in 2008 was electric utilities, which spent $156.7 million on lobbying, followed by insurance, which spent $153.2 million, and oil and gas, which paid lobbyists $133.2 million. Pro-Israel groups, food processing companies, and the oil and gas industry increased their lobbying expenditures the most (as a percentage) between 2007 and 2008.
This is just typical government , corrupt and unproductive,
Government ,all it produces are excuses !! This is why neither Adam Smith or Karl Marx would tolerant them, FYI its only fascists that believe in government.