UK National Debt Part Three.

In respect of the World Financial Armageddon [WFA] it would appear that measures to deal with many of the problems are now getting the International attention they merit, in my opinion this should have started within days of the very magnitude of the problem becoming crystal clear. Every day's delay meant a day more for some of the top men to start damage avoiding or limiting actions such as hiding what could well be toxic debts.

A year or two before the WFA I self-published a small book covering many widely divergent subjects, one two page chapter was headed "FRAUDULENT OR RECKLESS BUSINESS BEHAVIOUR BY COMPANY DIRECTORS". This heading and the contents of that chapter were prompted by several huge international companies suffering massive losses or even totally collapsing in circumstances best described as highly suspicious. One very large "savings club", here in the UK, had to inform its subscribers that they would only get a very small percentage back of what they expected at Christmas.

Quoted directly from my book: "How about a law that at the first suspicion of anything worrying or fraudulent, likely to affect the finances of any company or business in a major way, the Directors, Accountants, Managers and any one who may be responsible in any way are arrested and held in such circumstances that they cannot converse with each other or with any one who has an interest in the case.
They will then be questioned about the circumstances leading to their arrest and, if thought desirable, the Directors could hold a supervised and recorded board meeting to discuss the crisis.
From that point the police will decide what further action, if any, is necessary." Quotation ends.

On page 7 of the Sunday Times dated 25.04. 2010 there is an article by Iian Dey and Dominic Rushe. The article is headed Wall Street fears Goldman backlash. In my opinion this article is well worth reading by any one interested in understanding some of the different aspects involved in world finance at the top level. In a similar understanding concept www.Economicshelp.org yields information on National Debt.

This blog will be continued in UK National Debt Part Four.

Frederick W Gilling Sunday 02 May 2010