Wednesday, October 08, 2008

Icesave Iced

A few months ago I was perusing the Sunday papers, when I commented to K.

'The Icelandic banking system is looking really dodgy. I think I'll take that money out of Icesave.'

So I did. Online it took me about 2 minutes.

This week, Icesave went tits up. Within hours some woman was on BBC News bewailing the loss of the TWO HUNDRED THOUSAND pounds she had left on deposit with them.

Apparently it wasn't her fault she'd left what, according to her, was her entire cash pile in a failing institution. Oh no, it was the government's fault.

Seems she wasn't smart enough to read the papers, but she was savvy enough to know how to get on TV pronto to pin the blame elsewhere.

Not quite the attitude that made Britain great; and from memory I think she was an Oxford student too. Standards are slipping!

No doubt she will have been grateful today as the government voluntarily bailed out domestic Icesave investors.

News then started to leak that numerous local authorities had left MILLIONS on deposit with Icesave. Kent County Council alone had £50 million on deposit. Now they want bailed out too.

ffs The Chief Executives and Finance Directors of these councils are paid six figures plus benefits and lavish pensions.

Do they read the papers? Can they spell risk assessment? Should they still be in a job tomorrow?

If there are any vacancies maybe I should apply. I've got no relevant experience or skills in running a major local authority. Seems I'd be a shoo-in for the job.

1 comment:

Iceland said...

It amazes me that so many institution had still there money in the accounts. What were they thinking!