Government Reserves Revealed - £1.28billion

[gazza]

Re the money yest i agree the UK government used the anti terroist laws but the money was sent over to the UK by the FSC to another bank in the UK which it knew was shaky.

 

Why not in Barclays or spread between several banks.

This was after all 500 million not 2p and should have handled with respect.

Why was this money not ring fenced?

The answer is quite simple: nobody believed that Alistair Darling would be crazy enough to collapse a solvent bank, which KSF (UK) was until he started a run on it through ill-advised public remarks. Indeed, the FSA had given the FSC clear advice that KSF (UK) would be a safe place to deposit the money – otherwise it would not have been done.

The appointment of Administrators for the UK entity was a good thing - Have you not read the judgement in the judicial review in the UK? Your comments show that you havent.

The advice to the FSC was not clear; have you read it? It was a technical answer.

 

 

This last sentence puzzles me , what is the difference between a technical answer and a none technical answer.

Surely an answer is an answer is an answer?

The answer was couched in very technical terms and was difficult to interpret.

 

 

But surely Mr Aspden as head of the FSC is a man highly qualified by his position to interpret these things ?

Have you actually read the Judicial review reports. KSFUK were reported as having not done what they represented to the FSA.

If they had, the reassurances contained in the exchange of correspondence would have assisted.

As you have said , you are just a simple man who deposited with the Debryshire. I wonder if I would be wasting my time explaining, you appear to have made your mind up about the fault already; and the explanation is complicated and requires cross referencing to the FSA handbook, and FSMA.

 

No I have not read the judical review reports perhaps you can tell where would I find these?

Have you personally seen the exchange of correspondence - are these available to the public?

There is really no need for condecension please try to give me - if you wish a reasonable explanation otherwise I will assume you are just trying to confuse me with waffle and obfuscate the issue.

Please assume what u like...

ive posted a link to a Wall Street Journal report on the Judicial review above, A little bit of research with google will get you to the judgement i think.

You've contributed to the DAG legal fund, I think - surely they have supplied you with these documents? If not why not

The FSC/FSA correspondence is in the public domain - well at least some of it is, and has been posted on the DAG website.

Your last sentence sums up your approach to this - How to win friends and influence people.

Do I owe you any duty or explanation?

 

No but a little common courtesy would be fine.

 

look at the size of that

[manx-person]

Re the money yest i agree the UK government used the anti terroist laws but the money was sent over to the UK by the FSC to another bank in the UK which it knew was shaky.

 

Why not in Barclays or spread between several banks.

This was after all 500 million not 2p and should have handled with respect.

Why was this money not ring fenced?

The answer is quite simple: nobody believed that Alistair Darling would be crazy enough to collapse a solvent bank, which KSF (UK) was until he started a run on it through ill-advised public remarks. Indeed, the FSA had given the FSC clear advice that KSF (UK) would be a safe place to deposit the money – otherwise it would not have been done.

The appointment of Administrators for the UK entity was a good thing - Have you not read the judgement in the judicial review in the UK? Your comments show that you havent.

The advice to the FSC was not clear; have you read it? It was a technical answer.

 

 

This last sentence puzzles me , what is the difference between a technical answer and a none technical answer.

Surely an answer is an answer is an answer?

The answer was couched in very technical terms and was difficult to interpret.

 

 

But surely Mr Aspden as head of the FSC is a man highly qualified by his position to interpret these things ?

Have you actually read the Judicial review reports. KSFUK were reported as having not done what they represented to the FSA.

If they had, the reassurances contained in the exchange of correspondence would have assisted.

As you have said , you are just a simple man who deposited with the Debryshire. I wonder if I would be wasting my time explaining, you appear to have made your mind up about the fault already; and the explanation is complicated and requires cross referencing to the FSA handbook, and FSMA.

 

No I have not read the judical review reports perhaps you can tell where would I find these?

Have you personally seen the exchange of correspondence - are these available to the public?

There is really no need for condecension please try to give me - if you wish a reasonable explanation otherwise I will assume you are just trying to confuse me with waffle and obfuscate the issue.

Please assume what u like...

ive posted a link to a Wall Street Journal report on the Judicial review above, A little bit of research with google will get you to the judgement i think.

You've contributed to the DAG legal fund, I think - surely they have supplied you with these documents? If not why not

The FSC/FSA correspondence is in the public domain - well at least some of it is, and has been posted on the DAG website.

Your last sentence sums up your approach to this - How to win friends and influence people.

Do I owe you any duty or explanation?

 

No but a little common courtesy would be fine.

 

Had you not been so hasty to hit the keyboard you would have seen that I had in fact changed my last sentence.

You come to this forum and transition the threads to KSF.

If you have contributed to the legal fund, then why haven't "they" sent you a copy of the Judicial Review judgement?

[bellyup]

Oh dear its time to roll on the floor a la Christiano Ronaldo help ref!

How disappointing I thought you were above all that MP.

[manx-person]

Oh dear its time to roll on the floor a la Christiano Ronaldo help ref!

How disappointing I thought you were above all that MP.

So have you asked the DST legal team for a copy? I think it would be helpful if before posting about KSF, you actually kept up with what was happening.

 

The judicial review is the first public airing of what happened in the regulatory world.

 

Have a read and then see what you think about "regulatory failure"

[bellyup]

Oh dear its time to roll on the floor a la Christiano Ronaldo help ref!

How disappointing I thought you were above all that MP.

So have you asked the DST legal team for a copy? I think it would be helpful if before posting about KSF, you actually kept up with what was happening.

 

The judicial review is the first public airing of what happened in the regulatory world.

 

Have a read and then see what you think about "regulatory failure"

 

 

MP you are the one who mentions KSF I asked a simple question about technical answers to which I still havent got an answer.

Yes I know you dont owe me an answer technical or otherwise.

[manx-person]

Oh dear its time to roll on the floor a la Christiano Ronaldo help ref!

How disappointing I thought you were above all that MP.

So have you asked the DST legal team for a copy? I think it would be helpful if before posting about KSF, you actually kept up with what was happening.

 

The judicial review is the first public airing of what happened in the regulatory world.

 

Have a read and then see what you think about "regulatory failure"

 

 

MP you are the one who mentions KSF I asked a simple question about technical answers to which I still havent got an answer.

Yes I know you dont owe me an answer technical or otherwise.

Its not impossible to understand that FSA/FSC exchange of letters but you do need to read it in conjunction with the FSA rulebook and the FSMA.

 

I don't have a copy of it, so cant illucidate. But if you read and research you will understand.

 

Get a copy of these docs from the DST, and then come back and talk, otherwise we are discussing things without any substance. Post them here if you like for all to see.

[bellyup]

Thank you