SIR – Wyre Forest District Council’s website says that they will “minimise any impact on local front line services from this unprecedented global financial situation”.

Well, they can blame the global financial crisis but were they forced to invest in Icelandic banks?

£9 million offshore – not an inconsiderable amount at all, and apparently only a third of their total investments. So, £27 million in investments... (just letting those figures sink in...) and they will surely be hunting another inflation-busting rise in the council tax next April. Oh, yes.

A bit of advice – the local population are under attack from rogue bankers and their political henchmen as well. Start using some of that £27 million stash instead, because the rainy days are here.

WFDC is also saying that central government had advised them that these Icelandic banks were triple A-rated. The buck is thus successfully passed from WFDC.

Anyone with any financial acumen at WFDC would have gone for gold as the fail-safe investment, and not needed to ask the advice of central government.

The governments of the world have thrown our tax money over the fence into the banking elite’s swag bag. From the news I’m hearing, they are gearing up to do it again, and the mainstream media is still trying to decide if we are heading for a recession.

No, that’s come and gone – this is the abyss. If you’re sensible you walk away from the abyss. You reject it. It is now surely time for a new paradigm.

MARK MANNING,

Kidderminster.