:o £50 million from Kent CC has been locked away by Iceland and we haven't get a single turkey twizzler to show for it -_-

 

Now it looks like we're going to war with them (war of words anyways) - I'm sure I exagerate but this could turn in to something quite serious if both countries start to threaten each other as they are starting to so.

 

In full: Councils facing losses

 

Here are the councils who have so far revealed deposits in the collapsed Icelandic bank Landsbanki or its UK arm Heritable, or in other threatened Icelandic institutions:

 

* Kent County Council - £50 million

* Nottingham City Council - £42 million

* Norfolk County Council - £32.5 million

* Dorset County Council - £28.1 million

* Hertfordshire - £28 million

* Barnet Council- £27 million

* Somerset County Council - £25 million

* Northumberland County Council - £23 million

* Surrey County Council - £20 million

* Hillingdon Council - £20 million

* Neath Port Talbot Council - £20 million

* Westminster Council - £17 million

* Brent - £15 million

* Caerphilly County Council - £15 million.

* North Ayrshire - £15 million

* Plymouth City Council £13 million

* Havering Council - £12.5 million

* South Hams - £12.5 million

* West Sussex - £12.9 million

* Breckland Council - £12 million

* Gloucestershire County Council - £12 million

* Cheltenham Borough Council - £11 million

* Lancashire County Council - £10 million

* Scottish Borders Council - £10m

* Cambridge City Council - £9 million

* Wakefield - £9 million

* West Oxfordshire District Council - £9 million

* Wyre Forest District Council - £9 million

* Cheshire County Council - £8.5 million

* Bassetlaw District Council - £8 million

* Bristol City Council - £8 million

* Daventry District Council - £8 million

* Wiltshire County Council - £8 million

* South Lanarkshire Council - £7.5 million

* Derwentside District Council - £7 million

* North East Lincolnshire Council - £7 million

* West Lindsey District Council - £7 million

* Cherwell District Council - £6.5 million

* Redcar and Cleveland Council - £6 million

* Lancaster City Council - £6 million

* Canterbury City Council - £6 million

* Ceredigion - £5.5 million

* North Lincolnshire Council - £ 5.5 million

* Sutton Council - £5.5 million

* Bracknell Forest - £5 million

* Bromley Borough Council - £5 million

* Buckinghamshire County Council - £5 million

* Stoke-on-Trent Council - £5 million

* Braintree District - £5 million

* Cornwall County Council - £5 million

* Exeter City Council - £5 million

* Ipswich Borough Council - £5 million

* Oxfordshire County Council - £5 million

* South Ayrshire - £5 million

* South Ribble - £5 million

* Wokingham Borough Council - £5 million

* Gateshead Council - £4.5 million

* Oxford City Council - £4.5 million

* Colchester Borough Council - £4 million

* East Lindsey District Council - £4 million

* East Staffordshire Borough Council - £4 million

* North Wiltshire District Council - £4 million

* Powys Council £4 million

* Restormel Borough Council - £4 million

* Rotherham Council - £3.8 million

* Flintshire Council - £3.7 million

* Aylesbury District Council - £3 million

* East Ayrshire - £3 million

* North Somerset - £3 million

* Doncaster Council - £3 million

* Nuneaton and Bedworth - £3 million

* Peterborough City Council - £3 million

* Rhondda Cynon Taff Council - £3 million

* Solihull Council - £3 million

* Stroud - £3 million

* Slough Council - £2.5 million

* South Oxfordshire District Council - £2.5 million

* Wycombe District Council - £2.5 million

* Cotswold District Council - £2 million

* Gloucester City Council - £2 million

* Great Yarmouth - £2 million

* Moray Council - £2 million

* Newark and Sherwood District Council - £2 million

* South Ham District Council - £1.25 million

* Monmouthshire Council - £1.2 million

* Mid-Devon - £1.1 million

* Charnwood Borough Council - £1 million

* Dover District Council - £1 million

* Bridgend Council - £1 million

* Bridgnorth - £1 million

* Hertsmere Borough Council - £1 million

* Kirklees Council - £1 million

* Perth and Kinross Council - £1 million

* Tewkesbury Council - £1 million

* Vale of White Horse District Council - £1 million

* Winchester - £1 million

* Sevenoaks District Council - £1 million

* Tonbridge and Malling Borough Council - £1 million

* Lewes District Council - £1 million

* Burnley Council - TBC

* Chorley Council - TBC

* Wychavon District Council - TBC

 

Other affected bodies

 

* Transport For London - £40 million

* Metropolitan Police - £30 million

* Dorset Police Authority - £7 million

* Sussex Police Authority - £6.8 million

* West Yorkshire Police Authority - £6 million

* Northumbria Police Authority - £3.5 million

* Hertfordshire Police Authority - £3 million

* Gwent Police Authority - £1 million

I'm amazed that so many Councils invested money in Iclandic banks, it appears that they offered higher interest rates than UK banks did, so I suppose they were trying to get a good return. Looks pretty stupid now though.

 

Maybe Brown will order an invasion of Iceland to get the cash back :D well it wouldn't be the first time he has been party to an invasion.

Trust my council (Bristol) to lose some money <_>

 

Shame these public bodies didn't get some decent financial advice of late - financial advisors have been saying Icelandic investments are dodgy since September.

:wacko:

 

Why are councils investing so much? Governement borrows money from abroad (and pays interest) and allocate the money to local councils who then take the money and invest it abroad. It's crazy.

If any council has £20Million+ hanging around I have to question why they are not spending it on the local services or if they are getting to much central funding.

 

This is serioius mismanagement of public funds on a pretty MASSIVE scale... What the hell are these Councils, etc doing FFS???? I've noted the £40 million from Transport for London as well.... <_< Recently Boris Johnson announced that fares would be going up in the New Year by 10% because of an apparent "black hole" in the finances, so why didn't he take this money out if there were problems....? Ultimately it's HE that is in control of TfL, so he should have known that £40 million quid was sitting in this bank...

Lol one of the only councils not invloved is mine.

 

Quite a surprise considering they are a bunch of morons. Fife Council probably spent to much on another usless set of traffic lights for Cupar, or another roundabout for Glenrothes :rolleyes:

I blame Kerry Katona, i knew i shouldn't have gone shopping in iceland this morning.

Yay Derbyshire Dales or High Peak isn't there :P .

 

Anyway i'm not sure why so much British money is locked up in Iceland anyway. Its got a very low (total) GDP. Imagine if this was the central French or German banks!

 

We should give them a break tbh. Considering we've just dug up £400,000,000,000 and the US is over $10,000,000,000,000 in debt £1,000,000,000 certainly isn't much at all. Iceland will be pretty buggered up on its own without us hassling them.

 

Also Economics is so confusing. If everyone seems to be going into debt and banks are going bust where is the world's money going too?

 

I think since there appears to be a global reccession i don't think a UK recession really matters that much. I think the goverment should spent less money trying to kickstart the economy again and more on improving quality of life for it's citizens and more disposable income (which will help the retail sector anyway)

Edited October 10, 200816 yr by H*rve

I blame Kerry Katona, i knew i shouldn't have gone shopping in iceland this morning.

 

:lol: I think the Iceland store is going to have to change its name back to Bejam's!

 

Norma

$h!t, so did we, thats why it was so quiet

Also Economics is so confusing. If everyone seems to be going into debt and banks are going bust where is the world's money going too?

 

It's pretty much all going to the rich, greedy Capitalists, Corporations and secret societies, who make up a tiny proportion of the overall population (about 2%), but manage to steal about 95% of the world's wealth.. It is THEY who have made the whole concepts and ideas of Capitalism and Economics deliberately confusing so that the majority simply don't realise that they are being ripped off blind by a system which does not serve their interests at all.... As Bill Hicks once said "you gotta Squeegy your third eye" to see what's really going on in the world.... The Global Multinational Conspiracy is very real, the "Illuminati" (or whatever they call themselves) DO exist, there are secret societies (the Freemasons for example, there can be absolutely no doubt of their existence and how they have manipulated reality and the law to suit their own ends); but they've made those who are aware of their existence (people like David Icke for example...) look deliberately foolish on purpose so that much of what they say wont be believed....

 

Adam Smith was the man who came up with a lot of the concepts of Modern Economics (he wrote a book called "The Wealth of Nations), but even HE didn't believe in totally unfettered markets and profit above people, he was actually a moral philosopher.... His ideas and concepts were twisted and perverted by the likes of Thatcher and her "neo-liberalist" ilk who made up the Adam Smith Institute, Smith himself was probably spinning in his GRAVE when Thatcherism was on the go....

 

For those amoung you that still think the national newspapers still have some sort of credibility check out this recommendation.

 

Ten of the best ... savings accounts (24 September 2008 !)

Check out the top recommendation ;)

http://www.guardian.co.uk/money/2008/sep/24/savings.isas

For those amoung you that still think the national newspapers still have some sort of credibility check out this recommendation.

 

Ten of the best ... savings accounts (24 September 2008 !)

Check out the top recommendation ;)

http://www.guardian.co.uk/money/2008/sep/24/savings.isas

 

OUCH!!!!! And Bradford and Bingley are at No6..... :lol: :lol:

 

To be fair to the Grauniad though, things are so rapidly and randomly becoming more and more fukked up in the Financial sector (and also factor in that even though the article may have been Sept 24th, we have no way of knowing how long before this the data was actually collated....), that what seemed like a good investment a couple of DAYS ago could turn into a total dead duck....

 

Oh, and also, banks LIE constantly about things regarding their actual status, continually giving the false impression to their customers and investors that things are okay..... I mean, how many porkies did Darling and Broon feed us about the economy....?

Then i doubt HSBC going on about that they're the only bank with more savings than debts is a lie...

Oh, and also, banks LIE constantly about things regarding their actual status, continually giving the false impression to their customers and investors that things are okay..... I mean, how many porkies did Darling and Broon feed us about the economy....?

 

GORDON BROWN'S JULY 1997 BUDGET SPEECH

http://www.prnewswire.co.uk/cgi/news/release?id=54997

"In May the Government established a wholly new framework for monetary stability; open and accountable, based on clearly established rules and discipline. "

 

My first rule - the golden rule - ensures that over the economic cycle the Government will borrow only to invest and that current spending will be met from taxation.

 

Blah, blah, blah. :cry:

 

Then i doubt HSBC going on about that they're the only bank with more savings than debts is a lie...

More a front to ensure confidence in their bank maybe? I thought HSBC were backed by Middle Eastern investors which are more stable...?

The Icelandic banks were offering high interest rates. It should have been fairly obvious that they would struggle to pay that interest if massive sums were invested in these accounts.

 

There's a very simple piece of financial advice. If an offer seems too good to be true, it probably is.

GORDON BROWN'S JULY 1997 BUDGET SPEECH

http://www.prnewswire.co.uk/cgi/news/release?id=54997

"In May the Government established a wholly new framework for monetary stability; open and accountable, based on clearly established rules and discipline. "

 

Ah, yeah, this was back in the day when Blair and Broon actually believed in the principles of the "Stakeholder Economy", which actually would have benefited the majority had they actually stuck to their promises that they made in their 1997 Manifesto (which is why we VOTED for the buggers <_< )... But of course that would've actually involved the scum in the City and the Fat Cats actually getting on board and NOT receiving such huge bonuses for the sort of idiotic risk-taking that's made things go t*ts up now.... Gordy started to forget all about the "Stakeholder Economy" idea when vested interests started to put pressure on him and Nu Labor, and it was back to "business as usual" for that lot who wasted no time in getting the snouts back in the trough....

 

with this whole malarkey of councils stashing our money away in foreign banks - shouldn't someone be asking the obvious question....?

 

With councils all over the land (mine in particular) griping that the reason things are not as they should be in my ward is because "we simply don't have the money".... roads being left incomplete because "we ran out of money" (I kid you not), then why the hell is the money I pay for schools, decent policing, upkeep of roads and parks and general work in my area being hidden away in foreign bank accounts and not being spent where the annual council pamphlet promises?

 

Shouldn't Britain, in protest, join together and simply refuse to pay any more council tax until this is sorted? If a protest like this is conducted en masse, surely something will have to be done?

 

The one good thing about this whole Iceland debacle is that local authorities have been exposed, once and for all, as out and out liars.

Shouldn't Britain, in protest, join together and simply refuse to pay any more council tax until this is sorted?

 

Totally with you dude, what we need is the return of "Poll Tax" demos... Maybe even a riot or two.. Worked the last time.... :lol:

 

Thing is, I'd have to convince my landlord to withold Council Tax, cos the bills make up part of the rent, and it's all in his name.... :lol: