Bumbling Brown and his lame dog Chancellor Alistair Darling, whose speed in joint decision making matches that of a geriatric tortoise, have been sold a pup if they really believe that Northern Rock has been nationalised.
The resultant taxpayers’ exposure to the beleaguered bank has doubled since the beginning of the year and now stands at around £110 billion, which is more than the NHS costs us. Yet the government is keeping remarkably quiet over the fact that all the most profitable aspects of Northern Rock’s business have already been earmarked for the US private equity group JC Flowers and hedge fund Cerebus.
The new executive chairman, Ron Sandler, is well experienced in working with global financial companies. Earning £90,000 a month, Zimbabwe-born Mr Sandler holds a German passport and therefore as a non-domicile does not have to pay any income tax. Nor does his new financial controller, Canadian-born Ann Godbehere who pays her tax in Switzerland. And to underline the fact that it looks as if Northern Rock has been ‘inter-nationalised’ rather than nationalised, as we go to press it looks as if the investment bank NN Rothschild has been appointed to advise Mr Sandler.
The pioneers of the old Labour Party must be spinning in their graves.
One final thought. It is incredible that, when the Government could have invested a few million in Longbridge and kept thousands of car workers jobs, it is now squandering untold billions of our money to put an estimated 2,000 Northern Rock employees out of work.
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As others have said elsewhere in these columns, you couldn’t make it up. Granted, Brown and co ARE a bunch of bumbling incompetents, contrary to their image in the “mainstream media”. But they are also dancing to a tune written by those outside of and deeply inimical to our society. It is possible to forgive a mistake by leaders provided it is acknowleged and corrected, but when we see an ongoing policy of nothing less than the attempted destruction of our nation and people in the wide range of mismanagement reported on this website, it is hard to see it as anything other than deliberate (and treasonous).
Has everyone forgotten that Brown sold off our gold reserves (not his to sell) and that they underpinned our currency, for two hundred and odd dollars an ounce (mostly bought by India). The current price is over nine hundred dollars an ounce. This man is a financial genius, in reverse.
Please note that one of the most profitable loan books already sold off by Northen Rock was sold at a knock down price to J.P.Morgan…….a couple of days after a certain Anthony Blair announced his $5m.pa job as a consultant to J.P.Morgan
The £40 billion or so of these mortgages are held by Granite in a discretionary trust, principally to the benefit of ‘Downs Syndrome North East’; a registered charity ref: 1096003. As Paul Murphy points out in the FT on 21st February 2008, the Granite’s beneficial ownership is evidenced by Law Debenture as follows:
‘The entire share capital of Holdings (i.e. Granite) is held on trust…. for the benefit of one or more charities…‘any profits received by Holdings ….will be paid for the benefit of Down’s Syndrome North East Association UK …’
The charity itself seems to be unaware of this largesse though and have issued a statement saying that:
‘We are investigating why our charity appears to have been named as a beneficiary of a trust without our consent’. They go on to say: ‘We have definitely not received any money from Northern Rock or affiliated companies, except for a one off donation from a staff collection in 2001.’
In fact the purpose of this so called trust seems to have been to raise cash for Northern Rock’s business, while avoiding tax.
So a Down’s Syndrome Charity in the North East (home of Rock, Blair et al) knows nothing about the Billions of pounds held in Trust for it, I wouldn’t call it Tax avoidance (legal) but Tax Evasion (illegal) not a matter for the Charities Commission but the Serious Fraud Office.
PJD is absolutely correct. The tune to which MacBroon-the-Unelected and the rest of the Lib/Lab/Con/EU/Islamist gang are dancing was written by J. Pierpoint Morgan, N.N. Rothschild, and no doubt Chase Manhattan, P. & D. Warburg, Citigroup Bank and all the other co-owners of the U.S. Federal Reserve. They of course are the bankers’ arm of the Bankers/Corporatists/Marxists alliance which is committed to the imposition of the New World Order. To a gang of bankers, at least one of whom financed Adolf Hitler’s rise to power and owned a Polish steelworks which provided the Fuehrer with war materiel, ripping off British taxpayers for £110 billion is a mere trifle. Incidentally, Blair is not the only Bilderberg Group British prime minster to receive a $5million salary for selling off his country’s assets to an NWO conspirator. John Major sold Chatham Royal Naval Dockyard, not his property but that of the British taxpayers, to Dick Cheney’s Halliburton Group, no doubt for a very satisfactory price and, in return, is now that corporation’s $5million p.a. Chairman for Life. “This country is now at war”, not this time only with Germany but with the NWO and the Islamic Caliphate. To defeat those mortal enemies, we need an alliance too: British Army/Royal Navy/RAF/BNP.