2009/3/26 Gordon Joly gordon.joly@pobox.com:

At 15:52 +0000 23/3/09, Thomas Dalton wrote:

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2009/3/23 Gordon Joly gordon.joly@pobox.com:

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It is important for a local authority or a registered charity to be prudent....

The regulators said there was nothing wrong with the Icelandic banks - I think going with what the regulators say is sufficient to satisfy the duty of care. Anyway, this is massively off-topic!

Yes, massively off topic....

http://news.bbc.co.uk/1/hi/uk_politics/7963986.stm

"Seven English councils have been accused of "negligence" for putting money into Icelandic banks days before they went bust last October."

Indeed - putting money in after the credit ratings were reduced was rather foolish, I hadn't realised they had done that!