Comments on: Northern Rock - why it abused the charity http://www.taxresearch.org.uk/Blog/2007/10/09/northern-rock-why-it-abused-the-charity/ Richard Murphy on tax and corporate accountability Fri, 21 Nov 2008 20:18:07 +0000 http://wordpress.org/?v=2.6 By: jon supran http://www.taxresearch.org.uk/Blog/2007/10/09/northern-rock-why-it-abused-the-charity/#comment-396193 jon supran Tue, 11 Mar 2008 10:16:53 +0000 http://www.taxresearch.org.uk/Blog/2007/10/09/northern-rock-why-it-abused-the-charity/#comment-396193 Well done on highlighting these aspects of the Northern Rock mess/scam. I would add that it's amazing that the FSA/Teasury etc. seem to have ignored the obvious warning signs until it was too late. I've also uneathered a couple of other vehicles used by Northern Rock called Dolerite and Whinstone Capital Management which although much smaller than Granite are somehow connected to it and whose role isn't at all clear. Some research on these two maybe useful. I would also point out that I heard somewhere that legislation has been passed which means that from now on Northern Rock is no longer subject to the Freedom of Information Act. Is this true, and if so I find it extremely worrying to us as the taxpayers who have had to bail out this mess. Finally I would urge that people write to their MPs regarding this topic so it can't be forgotten or covered up as the Government would wish. Well done on highlighting these aspects of the Northern Rock mess/scam.

I would add that it’s amazing that the FSA/Teasury etc. seem to have ignored the obvious warning signs until it was too late. I’ve also uneathered a couple of other vehicles used by Northern Rock called Dolerite and Whinstone Capital Management which although much smaller than Granite are somehow connected to it and whose role isn’t at all clear. Some research on these two maybe useful.

I would also point out that I heard somewhere that legislation has been passed which means that from now on Northern Rock is no longer subject to the Freedom of Information Act. Is this true, and if so I find it extremely worrying to us as the taxpayers who have had to bail out this mess.

Finally I would urge that people write to their MPs regarding this topic so it can’t be forgotten or covered up as the Government would wish.

]]> By: Tax Research UK / Imitation is a sincere form of flattery http://www.taxresearch.org.uk/Blog/2007/10/09/northern-rock-why-it-abused-the-charity/#comment-294274 Tax Research UK / Imitation is a sincere form of flattery Thu, 29 Nov 2007 17:01:32 +0000 http://www.taxresearch.org.uk/Blog/2007/10/09/northern-rock-why-it-abused-the-charity/#comment-294274 [...] And you could have read all of it here beforehand. [...] [...] And you could have read all of it here beforehand. [...]

]]> By: Tax Research UK / Northern Rock: the significance of Granite to the Bank of England http://www.taxresearch.org.uk/Blog/2007/10/09/northern-rock-why-it-abused-the-charity/#comment-287348 Tax Research UK / Northern Rock: the significance of Granite to the Bank of England Sun, 25 Nov 2007 15:48:55 +0000 http://www.taxresearch.org.uk/Blog/2007/10/09/northern-rock-why-it-abused-the-charity/#comment-287348 [...] But my media coverage is not the important bit. The Guardian story sought to develop another new angle on this aspect of the story, to add to that on governance and the abuse of charity which have been greatly troubling me. This is that there is a very real problem in the structure of the Granite relationship for the government, now out of pocket to the tune of £24 billion to Northern Rock. Let’s go back to the Northern Rock balance sheet, depicted graphically here, and borrowed from its own published accounts: [...] [...] But my media coverage is not the important bit. The Guardian story sought to develop another new angle on this aspect of the story, to add to that on governance and the abuse of charity which have been greatly troubling me. This is that there is a very real problem in the structure of the Granite relationship for the government, now out of pocket to the tune of £24 billion to Northern Rock. Let’s go back to the Northern Rock balance sheet, depicted graphically here, and borrowed from its own published accounts: [...]

]]> By: Paul Murphy http://www.taxresearch.org.uk/Blog/2007/10/09/northern-rock-why-it-abused-the-charity/#comment-209153 Paul Murphy Tue, 09 Oct 2007 14:41:16 +0000 http://www.taxresearch.org.uk/Blog/2007/10/09/northern-rock-why-it-abused-the-charity/#comment-209153 Hear, hear And Richard - can you drop me you email address and or phone number.. paul.murphy@ft.com Hear, hear

And Richard - can you drop me you email address and or phone number..

paul.murphy@ft.com

]]> By: Francine McKenna http://www.taxresearch.org.uk/Blog/2007/10/09/northern-rock-why-it-abused-the-charity/#comment-209049 Francine McKenna Tue, 09 Oct 2007 13:03:28 +0000 http://www.taxresearch.org.uk/Blog/2007/10/09/northern-rock-why-it-abused-the-charity/#comment-209049 And PwC blesses it all, even helping to set it up! :roll: And PwC blesses it all, even helping to set it up! :roll:

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