Arresting News

It is reported on Wednesday 9th March 2011 that a number of arrests have been made in relation to the financial operations of the Kaupthing Bank, the Icelandic bank at the heart of the recent UK financial and banking crisis.

Robert Peston on the BBC has been extremely cagey in his comments as have much of the media. For some reason they express surprise.

As this is now possibly a criminal case I will make no comment.

There is a certain amount of material, however, on the web. This includes

Recently

http://thecynicaltendency.blogspot.com/2010/03/he-who-pays-piper.html

http://thecynicaltendency.blogspot.com/2011/02/economics-of-extraction.html

http://thecynicaltendency.blogspot.com/2011/01/2011-bad-beginning.html

And previously, the last one re Cayman Islands mentions the notion of Iceland on Thames.

http://thecynicaltendency.blogspot.com/2011/01/who-owns-london.html

http://thecynicaltendency.blogspot.com/2009/11/parliament-government-way-we-live.html

http://thecynicaltendency.blogspot.com/2009/09/gordon-brown-granny-basher.html

http://thecynicaltendency.blogspot.com/2009/09/tax-havens-another-one-bust-cayman.html

Those with a liking for history might study the crash of the Ayr Bank on 10 June 1772 which help trigger the major collapse of financial institutions in London as well as the fortunes of so many leading Scots and other families and then cascading down the social ladder to those of more humble and working trades.

Including mine.