What a disgrace this Labour government are, just how low will they stoop! The Scottish Government was going to give the Dunfermline Building Society a loan of £30 million to help keep it going and had asked the Treasury in London for permission to do so. They sent in KPMG as independent auditors to check out the company who concluded in their report that, although they do have some serious issues, they are well structured with this loan and £110 million in reserve assets to turn the company round.
Not satisfied with that all the Labour ministers and MP’s involved have been going around spewing lies to the media that the Dunfermline Building Society is in serious trouble because they have bought £60-100 million of American sub-prime toxic mortgages even after Jim Faulds the boss of the company has told them they have no sub-prime toxic debt and that they only purchased English buy-to-let from an American company and that this is news to him, his company’s auditors and their stakeholders and also the governments own independent auditors KPMG.
No wonder Jim Faulds was angry on the news today, not only are these Labour politicians lying about and distorting the position of his company, but the Treasury has not been in contact with him and his company for six months, even though he has been trying to contact them and also the Chancellor Alistair Darling who has not returned one call. Of course Alistair Darling would have been too busy practising his lies for the media to take these calls.
There was no major problem with this Building Society, this is to do with the English-funded Labour party bringing down this company to stop the Scottish Government getting any plaudits for helping to keep it going. They are also going to use this and the collapsed Scottish banks as scare tactics in a Scottish Referendum on Independence as an argument against Scotland being able to stand on its own. The fact that it means the same for the UK as well if that is the case with the English banks being in the same boat with the UK now being bankrupt means nothing to these people.
What sort of Scot would support any party who would do this to their country never mind a party that is funded by another country. The Scots who stabbed Wallace in the back for the sake of England are still around, what a disgraceful wee nation!
http://www.paisleyexpressions.blogspot.com
Well said. I’ve put a link to you here from an updated post I’ve just done. Hope you don’t mind.
Are they not in serious trouble only on the say so of the FSA.
Having said that, there are parcel of rogue’s on both sides, remember Trumptown!
Allan 19:22
Yep you are correct with that Allan, the FSA is supposed to be the one that monitors and then passes on any serious concerns to the Treasury/Chancellor. They didn’t as there wasn’t any serious concerns but, hey, we mustn’t let that get in the way of Councillor Kelly’s and the Labour party’s lies. Truth is a word they could not spell.
With regard to Trumptown you are also correct. That has been one of the worst things about these Thatcher/NewLabour years is politicians sucking up to people with money, not caring where they got their money and actively encouraging the madness that has now got us into the state we are in. We cannot go back to that so hopefully this will kill off Trumptown and things like it and we can start to do things for the benefit of the many and not the few.
Hi Subrosa
Fire away, link, copy do as you wish there is no copyright on any of my musings.
You should go over and have a look at the poor excuse for a councillor Terry Kelly’s rant on this subject. Then again him being in a cult what should we expect.
Billy give me the link for Terry Kelly’s rant please.
Sorry Subrosa, I didn’t realise there was any more comments here.
http://councillorterrykelly.blogspot.com/2009/03/worrying-look-at-chairman-of-my.html
If that link doesn’t work then just google councillor terry kelly, that usually brings up his site and all the others slagging him off for being the idiot he is