The questions we need to ask
Posted: 06 Jul 2015, 19:18Has your council got any Lobo's?
A great programm on channel 4 tonight.
A great programm on channel 4 tonight.
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The questions we need to ask
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Posted: 06 Jul 2015, 19:18Re: The questions we need to ask
Posted: 06 Jul 2015, 19:22Norfolk CC has 3
Re: The questions we need to ask
Posted: 06 Jul 2015, 20:17Not heard of lobos
Re: The questions we need to ask
Posted: 06 Jul 2015, 21:23I have no idea.
Re: The questions we need to ask
Posted: 06 Jul 2015, 22:40Never heard of logo 's.
Re: The questions we need to ask
Posted: 07 Jul 2015, 06:55They are high interest loans into their millions, which the councils are unable to get out of.
How Councils Blow Your Millions: Channel 4 Dispatches
Parliamentary committee chairman calls for inquiry into £15bn of risky bank loans taken out by councils across the country
Clive Betts, the Chairman of the parliamentary committee which scrutinises local government has called for an inquiry into £15bn of risky bank loans taken out by more than 200 councils across the country.
These risky and complex loans are known as LOBOs. Some councils like Newham and Cornwall are being charged interest rates of more than 7% on tens of millions of pounds of these LOBO loans at a time when base rates are at a historic low.
http://www.channel4.com/info/press/news ... dispatches
How Councils Blow Your Millions: Channel 4 Dispatches
Parliamentary committee chairman calls for inquiry into £15bn of risky bank loans taken out by councils across the country
Clive Betts, the Chairman of the parliamentary committee which scrutinises local government has called for an inquiry into £15bn of risky bank loans taken out by more than 200 councils across the country.
These risky and complex loans are known as LOBOs. Some councils like Newham and Cornwall are being charged interest rates of more than 7% on tens of millions of pounds of these LOBO loans at a time when base rates are at a historic low.
http://www.channel4.com/info/press/news ... dispatches
Re: The questions we need to ask
Posted: 07 Jul 2015, 08:49tha22222
Re: The questions we need to ask
Posted: 07 Jul 2015, 12:57Interesting
I have no idea if our council has any
I have no idea if our council has any