SIR, — I am alarmed to read (Herts Advertiser, October 16) that Herts County Council have placed £17 million this summer in Iceland Banks, including £7 million in September 2008. According to a national paper last week, red alarm bells have been ringing l
SIR, - I am alarmed to read (Herts Advertiser, October 16) that Herts County Council have placed £17 million this summer in Iceland Banks, including £7 million in September 2008.
According to a national paper last week, red alarm bells have been ringing loudly over Iceland Banks especially in September.
Herts County Council's reason for their actions was that they were following Government guidelines.
Surely someone in the council has the wit and financial knowledge to do some homework, particularly as so much money is involved.
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It reminds me of the story of the boy who was ordered to stand at "his post" on deck of the ship. When fire broke out, he remained rooted to the spot, still following orders.
Of course his superior did not foresee that fire would break out.
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Ox Lane, Harpenden.