Anti-terror laws used to justify bank freeze with Iceland.

WTF?_2

Just spotted this on HPC:

http://www.politics.co.uk/news/opinion-former-index/economy-and-finance/iceland-bank-freeze-used-anti-terror-laws--$1244102.htm

The UK government implemented anti-terror laws to freeze the estimated £4 billion worth of British financial assets in a failed Icelandic bank, it has been revealed.

The freezing order against Landsbanki, which owns failed internet bank Icesave, was issued under the 2001 Anti-Terrorism, Crime and Security Act.

Basically, looks like 'anti-terrorist' legislation was abused. This is pretty serious stuff - all manner of dodgy, civil-rights eroding legislation has been passed in the last few years with the excuse that it's to be used to 'fight terrorism'.

However, as suspected by many people it is just a cover for a repressive set of laws that give the government more control over our everyday lives and will be used mostly for anything but 'fighting terror'.

Irrespective of whether the outcome was favourable, we can not afford to sit back and say 'the end justifies the means'.

Realy

I would have thought going into administration would have been enough to freeze the assets anyway until a clearer picture was obtained?

Mind you why would the media sensationalize anything.;)

PS I do not feel the seizing of foreign assetes to protect the UK public is a bad thing. It is effecting their liberties not ours.

misskool

Hi, Martin’s asked me to post this in these circumstances: I’ve asked Board Guides to move threads if they’ll receive a better response elsewhere (please see this rule) so this post/thread has been moved to the savings and investments board, where it should get more replies. If you have any questions about this policy please email !!!!!!.

XXXX

Why not read more here?
http://forums.moneysavingexpert.com/showthread.html?p=14840139#post14840139