The ballpark: Regulatory failure. A stencil-----

Posted 07/11/2009 - 04:03 by follow_the_tao

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This is just a taster of the criticism coming out of the USA ( it doesn't come from Goldman or the FED (Gavin might like to note this:

Just read it and chase it up, it might be useful.

Government (IOM) takes advice on recovering Kaupthing losses

Posted 01/07/2009 - 08:32 by anrigaut

2009-06-30 23

Government takes advice on recovering Kaupthing losses
Published online at 01/07/2009 04:12:27

Legal advice has been taken over whether financial losses incurred as a result of the crash of Kaupthing bank could be recovered.
In a written question in the House of Keys, Rushen MHK Juan Watterson asked about the possibility of recovering any or all of the money lost by the Isle of Man Treasury, depositors with the bank and holders of banking licences in the Island.
Mr Watterson suggested action could be taken against Her Majesty's Treasury, the United Kingdom's Financial Services Authority or the Icelandic financial services regulator.
In his reply, Treasury Minister Allan Bell says advice has been taken from the Attorney General and from what he calls 'specialist Queen's Counsel', but no action is being taken on the matter of legal challenge.
He adds the legal position is kept under periodic review.

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Guarantee Delay???? What???

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In this report Bell says the negotiations with Iceland will be delayed as a result of the collapse of the Icelandic government.

MHK David Cannan questions to Treasury Minister - ringfencing funds UK

2008-11-18 (All day)

There were more exchanges in Tynwald today over the collapsed bank Kaupthing Singer and Friedlander.

Michael MHK David Cannan (pictured) questioned Treasury Minister Allan Bell about whether the Manx bank’s money - which is trapped in the United Kingdom – should have been ring-fenced:

LISTEN TO THE CLIP FROM THE BROADCAST!!! KSFIOM Directors claim deposit was properly deposited in UK (inference ringfenced

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