Perhaps I have a somewhat twisted sense of humour, but I can’t help finding it rather amusing that Fife Council may be one of the 108 local authorities in the UK who invested tax-payers’ money in Icesave - the ironically frozen online division of Landsbanki (Iceland’s national bank).
Whilst it is true that financial advisors, all over the globe, recommended opening a high interest deposit account with Icesave, most of them did also emphasise not to throw all your eggs in one basket. In fact, on their own website, Icesave clearly state that the maximum compensation is “limited to 100% of the first £35,000 deposited”.
However, UK chancellor Alistair Darling - that hapless confused looking imbecile that resembles Sam the Eagle from The Muppets - has managed to increase the compensation limit to 100% of the first £50,000 deposited, by throwing more tax-payers’ money at Landsbanki’s online division.
Whilst Fife Council have still yet to comment on how much of our money they have flushed down the Icelandic lavatory, it is rumoured to run into “several million”, which leads me to question why Fife Council are gambling our hard-earned cash instead of spending it on making Hazzard County a more pleasant place to live.
Perhaps Fife Council should do what one angry online blogger suggested and ask for the balance of payments in fish fingers, since given the current financial crisis, this is all that we’ll be able to afford to eat soon.
media-underground.net