How can this be legal?

Politics
21

Exactly, no criminal intent just incompetence?

Not sure I can watch the BBC legally :joy: (but I will).

1 Like
22

I’ve watched it. A total mishmash with heart tugging highlights. Sensational “journalism” at its worst. I felt the the Down’s syndrome people were used (and I use the word advisedly) shamefully.

Just a few thoughts…

1 - Somehow inexperienced councils were let off the leash to invest hundreds of millions with no oversight. Who’s to blame, the “empowered” idiots or those that recklessly empowered them?

2 - How and why is the Council bankrupt? On an operating basis the’ve lost the income from a +/-£200M investment, that’s all, What was the projected ROI, +/-5% - ie 10M? That’s their true annual deficit. On the other hand how much has the increase in interest rates impacted the cost of servicing the borrowing of the total investment? Just asking :thinking: None of this is simple stuff and it pisses me off when it’s presented as such. Shitty journalism.

3 - Finally, if Liam Kavanagh didn’t lie (unlike all Tories politicians) or mislead (ditto) and provided valid and verifiable data upon which investors could make a decision (albeit a stupid one) he can spend his money on whatever he likes. He’s either broken the law and should be pursued or he hasn’t and shouldn’t be pilloried on the holier than thou :wink: BBC.

IMHO this is misreported, over simplified, tabloid bullshit. Pathetic wanabe investigative reporters. The BBC should do better.

4 Likes
23

The problem may be John, that the empowered idiots were/are being empowered by empowered idiots? Perhaps Kavanagh is a convenient scapegoat.

Will we ever discover the truth?

2 Likes
24

Thats the British Bias Corporation for you. With their fact checking department. :rofl:

1 Like
25

No bias IMO, just poor journalism. It wasn’t always that way on Panorama.

26

I think we can conclude that a police investigation is required to determine if a crime’s been committed. And maybe a change in the law to stop councils borrowing from each other and then investing in get rich quick schemes. They’re meant to be service providers, not banks.

1 Like