March 28 2009; Dunfermline Building Society collapse

Jim “Spud” Murphy Spins the lie. Sews the seeds of doubt about the society’s viability. https://www.youtube.com/watch?v=rv7wMpb1H1s

March 29, 2009 Labour, (Jim “Spud” Murphy) Spins and Lies Against The Dunfermline Building Society

Jim Spud Murphy: I find it difficult to express my disgust for Quisling Murphy. In every situation he takes the smarmy anti Scottish line. Have people like this no pride? Do they ever tell the truth? Is their personal career all that matters? How exactly do they differ from the bankers?

Alistair Darling: He was determined to force through the shotgun sale of Scotland’s largest building society despite an unprecedented backlash from its board and the Scottish Government. His decision meant the Dunfermline Building Society was broken up, its savings business taken over by the highest bidder and the taxpayer footing the bill for losses on its loans. https://www.youtube.com/watch?v=nU3qUt2Xb6k

March 30 2009; Dunfermline Building Society Scandal Unravels, Murphy Lies Exposed

Claims by Jim Murphy, the Scottish Secretary, about Dunfermline Building Society’s financial position have been contradicted by the government’s own appointed administrators KPMG, it emerged yesterday. Speaking last week, Murphy claimed that the society had invested in “reckless” sub-prime investments in the United States, and implied that it was actively involved in buying risky packages of US mortgage debt.

However, the government-appointed administrators, KPMG, have now identified that there were no such investments. Last night a KPMG insider confirmed that Dunfermline Building Society (DBS) was not exposed to American toxic debts and that it was solely commercial property problems in the UK that led to the society’s collapse.

Westminster has taken the so called bad parts. Nationwide have taken the good loan book. So why have they been given £1.6bn. Even if Darling was correct that the society would require £100m that’s a small percentage of the money given to the Nationwide. Isn’t it strange that unionists are so keen to blame the management rather than show concern that Scotland is losing another head office.

Evidence that the chairman is to blame? He has only been in post for 6 months. The Labour Government claimed the DBS needed £60m-£100m & that they had sub-primes debts, when in actual fact they had no sub-prime debt and they only needed 26m. The Scottish government offered 25m and there were loads of other offers. All ignored by Labour.

Labour Took full advantage of the banking situation to bring down the Scottish banking system. Third one in a row! Who do you believe the Uk Labour government or the chairman of the Dunfermline Building Society?? I know who I’d trust! https://www.youtube.com/watch?v=ZR3SICn4Z58

Apr 5 2009; Dunfermline Building Society & Team GB – Interview Jim Murphy

More waffle from Murphy. What a chancer!!! Quoting the Sunday Herald: “CLAIMS BY Jim Murphy, the Scottish Secretary, about Dunfermline Building Society’s financial position have been contradicted by the government’s own appointed administrators KPMG, it emerged yesterday. Speaking last week, Murphy claimed that the society had invested in “reckless” sub-prime investments in the US,… …However, the Sunday Herald understands that the government-appointed administrators, KPMG, have now identified that there were no such investments. https://www.youtube.com/watch?v=GktJWbstod8

Aug 24, 2010 Jim Murphy Tries The hard Sell Seeking to Justify The Unnecessary Takeover Of The Dunfermline Building Society

The Nationwide Building Society has been handed the vast bulk of the core business of the Dunfermline Building Society. So called toxic loans of £22M have been taken on by the government in Westminster. https://www.youtube.com/watch?v=ThK0pEWz5Lg

Sep 1, 2010 Gordon Brown and The Sell-Out of The Dunfermline Building Society

Brown doing his Thatcher act Closing down any form of independent banking in Scotland. Disgraceful centralisation of power emasculating Scotland. Concerns are now raised at the future of Dunfermline’s 530 staff members https://www.youtube.com/watch?v=GboWulxaEh4