Wednesday, 22 October 2008

Darling Informed that Barnsley Now Part of Yorkshire

Now before any of my well informed readers run to correct my statement on geographic grounds about the town of Parky, I'd like to state I'm talking fiscally. As the Yorkshire Building Society has taken over the Barnsley Building Society to protect it from the possible loss of up to £10m that was invested by the BBS in Icelandic Banks.

However, it does take us back to the term used by the Chancellor at the start of the Icelandic banking implosion. Then he referred to councils as "informed investors" and therefore was going to exclude them from any protection.

What definition is a building society that had deposits in Iceland, Darling? Surely if even such informed investors as those involved in the financial sector have money tied up in Iceland, how much information does Mr Darling assume that councils had to make them so informed?

Is Darling as informed about this whole crisis as he should be? Before he ruled out protecting "informed investors" had he checked out information on their deposit deals?

We insist that you should inform us Darling.

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