DATA BASE AND REPORT ON ICELANDIC BANKING CRISIS WITH RECOMMENDATIONS FOR KSFIOM
A report is now available for publication on the DAG website joint authored by myself and Nick Johnston which correlates with the Treasury Select Committee Report on the Banking Crisis HC402 released last Saturday.
It has been reviewed by the DAG Strategy Team and publication on the site is now cleared. I need some help please on how this may be accomplished so that it sits in a suitable position with links to this and maybe the chat forum.
Ready to go now, so web tech please advise. File size 258KB pdf
Thanks
Terence Stevens
(20 votes)
stevens & johnston report
An excellent document. Than you very much.
We must consider how best we use it - it is too valuable to leave lying around just on the site.
Comprehensive and authoritative
Comprehensive and authoritative. Thanks for all the work this must have taken.
Well Done
Congratulations on all your hard work. A truly excellent document and very well presented. Thank you both.
Ideal documentary material for BBC Panorama?
excellent doc
This is an excellent doc. I have forwarded it to the BBC who is asking for info on clause 27. Hope you don't mind.
Demo Respnse
No problem. I have referenced it myself in the following e mail to PM in response to the coverage of the demo yesterday
"The PM coverage yesterday of the plight of the depositors who have money in Kaupthing Singer and Friedlander Isle of Man (KSFIOM) was seriously misleading. On October 8th when the sister, but entirely separate, onshore subsidiary of Kaupthing hf in Iceland, Kaupthing Singer & Friedlander Limited, was seized under UK enabling legislation, our bank was very solvent, and did not collapse. It was forced into Provisional Liquidation by that action because it had £557m of mainly short term quick assets there, part of a normal business relationship. Nobody has lost money - yet. It depends on the Treasury giving permission for those assets to be released. The fact that this has not happened yet is mainly due to the fact that the onshore administrator Ernst & Young were ordered, for the first six months, to deal only with the transfer of part of the business to ING in the Netherlands. That six month period came to an end on the 8th April.
Please see the report on the KSFIOM public site:
http://www.ksfiomdepositors.org/sites/www.ksfiomdepositors.org/files/Ban...
Which tells the full story.
It is to be hoped that following the recommendation of the Treasury Select Committee Banking Crisis Report HC402 dated 4th April, that the relevant authorities will now be able to work together to find a solution. The KSFIOM solution does not require any taxpayer money from the UK. There remains no reason why recoveries to depositors should not be 100%.
TS"
I've sent it to BBC and a
I've sent it to BBC and a few others journos as well, thanks Trevor and Nick an excellent unbiased view. Factual and unemotional, very good indeed. Everyone should read this report.
Can you send me the original
Can you send me the original document (not the PDF version) -- see email.
DATA BASE AND REPORT
Many thanks for putting that up
Links are:
http://www.ksfiomdepositors.org/public-page/banking-crisis-review-report
Downloadable pdf
http://www.ksfiomdepositors.org/sites/www.ksfiomdepositors.org/files/Ban...
Terence