What Happened?

On the 8th of October 2008, the British treasury minister - Mr Alistair Darling - decided to place the Kaupthing HF bank, based in the UK, into liquidation.  However, the Kaupthing Singer and Freidlander bank based in the Isle of Man had over 30% of its depositors assets in Kaupthing HF, appoximately £552 Million, and therefore was forced to immediately cease trading itself.
 
Taking everyone by suprise, the ambush by the British Government on its own people caught many people unawares.  As it was (still is at the writing) impossible to maintain a UK bank account without a UK address (As heard by the Treasury Select Committee hearing - See Para 5, THE ABILITY OF BRITISH EXPATRIATES TO OPEN UK BANK ACCOUNTS in Janurary 2009)  many people who were working overseas, serving in the armed forces, retiring or moving abroad had their savings offshore.  The Isle of Man Government blusters about compensation scheme's and returns to depositors, but other than a £10K payment (which is deducted from the amount that can be claimed later) the banks customers have been left high and dry.  The only people to have made a fortune out of this have been sponging law firms who have taken the foolish IoM Government to the cleaners and PWC the Company responsible for the liquidation; want to know where the Kaupthing bank customers cash went? Just look at the tall buildings in London - and most other Cities - with PriceWaterhouseCoopers written all over them and you get an idea.
 
The UK Government forced thousands of British Citizens to bank offshore, conned the Isle of Man financial regulator to advise Kaupthing Singer and Freidlander to put its money in a dodgy UK bank then Alistair Darling destroyed the lives of thousands of British Citizens by forcing the UK bank into liquidation and using the money to pay vote winning charities (IE. The Cat Society), Labour friendly Millionaires (Dave Whelan) and select public companies that no doubt senior members of Labour have shares in.  The UK Labour Government under the pretend leader Gordon Brown is a disgusting and shabby Government but it is supported by abismal and grubby opposition parties whose MP's will do as little as possible other than if votes are at stake.
 
The 8th of October 2008 was a shameful day for British politics as a whole. The prime miscreants are Gordon Brown, Alistair Darling, Ian Pearson, Sarah MacCarthy-Fry, Paul Myners and Hector Sants (who is not an MP but an excuse for a FSA chairman who wouldnt know the truth if it hit him); however, the blame for the lives destroyed weighs on every MP's shoulders as, apart from a handful of decent and goodly MP's, it is they who allowed this to happen without question.