Charity Bail-Out Due Icelandic Losses?

The BBC is reporting that 'charities' should receive a bail-out for monies lost in investments deposited in Icelandic banks, whilst local authorities should not. The reason for this is, according to John McFall, Treasury Committee Chairman, is that local authorities have financial advisors, treasury teams and were given warning.

This is nothing more than 'government spin' being put out by a parliamentary committee, with a Labour majority, to recoup losses incurred by what are in effect fake charities - aka pressure groups set up by the government with charitable status, to do the governments bidding, lobbying and general PR work. What this means is that the taxpayer is paying twice, once to fund the damned 'charity' and then to cover its mistakes and lack of administrative ability.

For McFall to make the point that local authorities have 'financial advisors' and 'treasury teams' and that, by implication, 'charities do not, is obfuscation at its highest level. These so-called charities have boards of directors and incorporating a financial director - in other words someone with responsibility for the finances - because if not who else prepares their annual accounts?

Just because this government, its ministers and MPs are total idiots it should not assume that the electorate are!