I Can't believe this 135 police officers.
Discussion
Now if they government want to reduce costs maybe they should look at operations like this
http://www.bbc.co.uk/news/business-12688072
johnfm said:
Which type of suspected criminals would you like the police to pursue?
My point was, the government are saying the police cost too much, the police say resources are stretched to the limit, and overtime is essential, yet it takes 135 man somethings to carry out this investigation, In fairness I don’t know if it was 135 officers for 10 minutes or for 10 months, but it does seem out of proportion when allocating so called limited resourcesAnd in answer to your question, the ones that mug old ladies or stabb people or steal cars or break into peples houses.
Adrian W said:
My point was, the government are saying the police cost too much, the police say resources are stretched to the limit, and overtime is essential, yet it takes 135 man somethings to carry out this investigation, In fairness I don’t know if it was 135 officers for 10 minutes or for 10 months, but it does seem out of proportion when allocating so called limited resources
And in answer to your question, the ones that mug old ladies or stabb people or steal cars or break into peples houses.
Done right it could lead to a lot of money coming back, or atleast finding out where it went so they can try and get it back. And in answer to your question, the ones that mug old ladies or stabb people or steal cars or break into peples houses.
Banckrupt a bank and loose thousands of people's money isn't worth a major police operation? Wasn't there a big diplomatic arguement over whether Iceland would repay the money lost in Icelandic bank failures, if you can prove dodgy behaviour it may make it easier to prove Icelandic government bodies are liable.
People jumping up and down about what the police should and shouldn't be looking at is stupid as we don't have the full fact that the police have access to.
Adrian W said:
Now if they government want to reduce costs maybe they should look at operations like this
http://www.bbc.co.uk/news/business-12688072
If you knew these chaps as well as I have the pleasure of knowing them then you would understand that 135 is way too low to cover all the bases and find whatever it is you might be looking for. http://www.bbc.co.uk/news/business-12688072
It's a pretty big case - probably quite a complicated one at that, despite what TV detective shows have taught us not all crimes can be investigated by one 'tec and their plucky sidekick. Didn't a few UK councils lose significant amounts of cash during the Icelandic collapse? If there was foul play contributing to the loss of significant amounts of UK taxpayers cash then that sounds like a worthwhile use of police time to me. Also bearing in mind it says "involved" 135 officers I'd expect that very few of those spent a significant amount of time on the case, the number 135 is just there to make it sound dramatic - financial crimes make for dry news articles vs a murder so they need all the drama they can get.
The article is also somewhat misleading as to what much of the business with Kaupthing was.
The brothers moved to Kaupthings CFD operation as their positions were too large for the domestic UK firms and many had decided that they did not wish to carry the credit risk of people who's assets were mostly offshore and untouchable.
Kaupthing's CFD operation was a London desk they had acquired a few years earlier and through reckless risk management went on to hoover up much of the positional, high risk business in the UK market. City Index was one of the few UK firms to retain some of these clients and took what many believe to be a 100m hit from it in 2008. Other clients hid via smaller brokers clearing through the big houses and folded.
Kaupthing were offering low leverage and cheap funding on positions which could not be unwound in the market if the need arose. It was mostly staffed, if I recall, with people from a much smaller firm that had defaulted 6 months earlier due to a single large client default in the main.
The debt that is being discussed in this article is to do with leveraged CFD positions on stocks like Sainsbury and Mitchells and Butler which were believed to be takeover plays at the time.
The question is what happened to those OTC positions when Kaupthing collapsed as they would have hedged the OTC using physical holdings or another CFD from a larger clearer, who themselves would have been holding the physical.
Anyone who was embroiled in the collapse of Echelon or GT247 as a retail client will understand why this article may be a red herring.
It is also worth looking at Mr Del Monte and his recent divorce from the sister and what went on there
The brothers moved to Kaupthings CFD operation as their positions were too large for the domestic UK firms and many had decided that they did not wish to carry the credit risk of people who's assets were mostly offshore and untouchable.
Kaupthing's CFD operation was a London desk they had acquired a few years earlier and through reckless risk management went on to hoover up much of the positional, high risk business in the UK market. City Index was one of the few UK firms to retain some of these clients and took what many believe to be a 100m hit from it in 2008. Other clients hid via smaller brokers clearing through the big houses and folded.
Kaupthing were offering low leverage and cheap funding on positions which could not be unwound in the market if the need arose. It was mostly staffed, if I recall, with people from a much smaller firm that had defaulted 6 months earlier due to a single large client default in the main.
The debt that is being discussed in this article is to do with leveraged CFD positions on stocks like Sainsbury and Mitchells and Butler which were believed to be takeover plays at the time.
The question is what happened to those OTC positions when Kaupthing collapsed as they would have hedged the OTC using physical holdings or another CFD from a larger clearer, who themselves would have been holding the physical.
Anyone who was embroiled in the collapse of Echelon or GT247 as a retail client will understand why this article may be a red herring.
It is also worth looking at Mr Del Monte and his recent divorce from the sister and what went on there
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