Thursday, May 14, 2009

Don't Look Now...But The UK Is About To Catch Fire

If you haven't been following the growing scandal in the UK, now might be a good time to get acquainted with it. What's happened is a common product of when the easy money get's tight: All the fraud is exposed like coral at low tide.

Just like the Bernie Maddoff scandal here in the US, the Daily Telegraph has set alight a fire in England. The Telegraph leaked expense documents for Members of Parliament which show they were abusing their privilege of tax write-offs and government funded expense accounts. Some of the abuses border on criminal. But what did the Labor Party government of Gordon Brown do? They indicated that they would prosecute the person who leaked the documents! Never mind that it was the public's money.

Then the tide suddenly turned. Suddenly the MPs started to worry about the real possibility of pitchforks and bonfires. Now they're sheepishly announcing that they're 'paying back' the money, but all the while still claiming it was all on the up-and-up. Clearly it's not. And since when was agreeing to give back stolen goods enough to just walk away from a theft? I suspect Gordon Brown and the Labor Party will not recover from this one. Keep an eye on this, it might erupt into street violence....who knows these days.

Every day more details leak out. I wonder how long it will be before the same happens in this country?

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