Where's the money gone? Not here, say guilty three

2008-11-04 (All day)

The three men sat, in a row, looking like a trio of naughty, if rather aged, schoolboys. They may, in reality, be the most powerful men in the land when it comes to the economy but, for their appearance before the Treasury committee, they had donned the careful blank faces of pupils caught red-handed. John McFall, the Labour committee chairman, effortlessly adopted the persona of the stern and humourless headmaster as he faced the guilty three: Alistair Darling, the Chancellor, Mervyn King, Governor of the Bank of England, and Whatshisname, the new guy at the Financial Services Authority. They did, actually, look furtive.

Beside Mr McFall was a stack of 5,000 e-mails with questions for the Guilty Three from the Great British Public. The trio gulped. Mr McFall read out the first question, from Ted W. “Where,” he demanded, “has all the money gone?”

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Curious about the credit crunch? Ask Darling - Treasury hearing

Posted 03/11/2008 - 15:03 by C_south_africa

2008-11-03 (All day)

How will the credit crunch affect your savings? Is your nest egg safe in the Isle of Man? Is now a good time to be shopping around for a new mortgage?

Who better to ask than the Governor of the Bank of England - unless you can get through to the Chancellor himself?

Three of Britain's most powerful public servants face a grilling from MPs today about the world financial crisis and for the first time the questions will be provided by members of the public.

................Many of those who have sent questions in have a direct personal interest in the answers, however. They include angry depositors from the offshore Isle of Man subsidiary of the Icelandic bank Kaupthing Singer and Friedlander whose assets, totalling some £800 million, were frozen by the UK Treasury under anti-terrorism laws last month but who have not yet received any guarantee that they will get their money back.

It's too late to ask any questions of the trio. The deadline was on Saturday at 4pm, 48 hours before the hearing.

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Alastair Darling’s conversation with his Icelandic counterpart sheds different light on the Icelandic Bank collapse

Posted 27/10/2008 - 17:04 by julianm

2008-10-27 (All day)

A more complete transcript of the telephone conversation

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Darling Transcript Contradicts UK Allegations

2008-10-23 (All day)

A transcript of a conversation between the UK chancellor, Alistair Darling, and his Icelandic counterpart appears to question the British government’s claim that Iceland had refused to compensate UK savers.

The Icelandic government believes that Mr Darling’s statement induced panic in the UK, triggering a run on the one remaining Icelandic bank that was in business, Kaupthing, leading directly to its eventual collapse and forced nationalisation.

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