I hope I have not been giving investment advice!!

I have been reading that the Financial Services Authority (FSA) has been maintaining a dignified silence that it was warned by Singer and Friedlander that its Icelandic buyers were not fit and proper. The FSA seems content to go after the small
fry.
Talking about small fry, I hope I have not been giving investment advice, since the FSA would come down hard on a poor blogger but lets the big fish go free. With the banking meltdown, something has gone very badly wrong at the FSA.
Talking about Iceland, bankruptcy does not look a pretty sight. I know they parked the foreign debts out of sight and out of mind but inflation and unemployment have been shooting up. I suppose the Borough of Barnet still wants its money back. Maybe Barnet could convert its debts into future
cod catches.
Although HM Government deigned not to rescue the local authorities with Icelandic deposits it probably had no choice but to repay depositors of Icebank to protect the integrity of the British banking system. The Labour administration could have done more to minimise the collapse of the Icelandic invaders by clipping their heels. I suppose hindsight is a great thing and probably it is the "mania of crowds" thing. If we allow Royal Bank of Scotland (RBS) to hit the rocks, then we were not going to be clued up in terms of preventing councils depositing council tax revenues in Iceland. Under the FSA rules I suppose the councils were considered professional investors, big and nasty enough to look after themselves. I suppose nobody is going to walk the plank about this mess.
www.searchifa.co.uk