Why do people still believe that selling or leasing of government assets leads to lower costs and greater efficiency. There is historical parallels , the King giving land to his friends and the Church. The result was such action led to the enrichment of the Nobles and the Church and the weakening of the Crown. As for the Peasants, screwed by Crown & Nobles.
A London fire engine then owned by Assetco
CROSS POSTED ON BYLINE.COM
The scandal that led to the huge £3.7m fine ( reduced to £2.4m after co-operation) against accountants Grant Thornton and ex partner Robert Napper is revealed in a dry 56 page report by the Financial Reporting Council.
The biggest con by the privatised company Assetco responsible for owning and maintaining the capital and Lincolnshire’s fire engines was in faking additional cash payments from London’s fire brigade when it was asked to do more work.
Directors of the company took advantage of three extra requests that were approved by London fire brigade – involving new equipment for fire engines and emergency training for 700 of the capital’s firefighters.
In all three cases they fiddled the books to boost the value of the company to shareholders and lied about the cost of the contracts to gullible auditor Robert Napper and…
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