Wonga UK

Imagine if you would… You have great wealth to Invest…. But rather than keep that for yourself, you have a supposedly equal partner in a business. The two of you had set the business up many years before, prior to that you had your own successful business, but your new partner who had a somewhat larger business had been forever trying to make hostile take over bids against you. They were ultimately not successful but had been undermining your ventures in overseas trade. In this they were partially successful because they had much greater business contacts abroad, and had used their clout to persuade others to have nothing to do with you or your foreign venture. This resulted in the failure of this substantial project, and caused a number of your directors and investors to lose a significant amount of money.

Meanwhile your new equal partner had been well over stretching themselves and had got into such a mess from the many conflicts they had been having with others,that they were effectively Bankrupt! The only way that they could get out of the diabolical mess that they were in was to somehow persuade you that a merger of your two companies was desirable.
You however were extremely reluctant to enter into such a partnership and merger. So what they did without your knowledge was to plant someone in your company who would make themselves appear very useful to you, but were in fact stirring up trouble and working behind your back to undermine you, while reporting all your company meetings back to them.

Not only that, but your new partner to be, also behind your back was whispering into the ears of the majority of your directors and investors who had lost money in your failed and sabotaged foreign adventure, and promising them considerable bribes if they voted at the shareholders meeting to agree the merger of the two companies. Ultimately despite almost the entirety of your workforce taking extreme Industrial action and protesting vehemently against the merger, your rogue directors and shareholders won the day, and agreed the merger at considerable loss to all of your workforce.

Although you were under the impression that your company Scotland Int Ltd was an equal partner in this newco , you were very sadly mistaken. This was a full scale takeover in all but name.
Your head office in Edinburgh was mothballed, and the Headquarters of this new company was moved to London. When the composition of the Board of this new company was announced you soon discovered that your voting rights were negligible. Indeed it was impossible at the time and ever since that your wishes could ever be carried on any vote of the company board, as you were out voted at a ratio of 11 votes to One by the continuing members of England Int ltd.
In reality while you had retained independent control of various local aspects of Scotland Int ltd , such as your Education, Law, Health, Police and religion departments, all else was transferred over to the running of the newco GB Int Ltd (England) It was in effect a complete a takeover as could possibly be imagined. You were however successful in holding onto the name Scotland, but only as a subdivision of the new company, giving you GB Int Ltd(England) Scotland division.

In more recent times we see an example of this type of branding with one of your former subsidiary companies.. Bank of Scotland PLC which was subject to a merger with Halifax.
In this instance the flag ship Headquarters remained in Edinburgh, and the newco was named Halifax Bank of Scotland. But 90% of its business was carried on outwith Scotland through London,and the positioning of the name Halifax gives an indication of the reality of who was the senior partner. The Scottish aspect of the name implied good banking practice and security, while the Halifax business and over stretching in the sub prime mortgage market eventually bankrupted the newco. For publicity purposes though, it still remains a Scottish bank.

For a good number of years the GB Int ltd (England) newco was remarkably successful on the World stage, and a good part of that success was down to your companies management skills, invention and innovation. Your staff were particularly good at running many of the departments in the new company. In fact one could say that the Directors of the former England Int Ltd Ruled the roost and the expansion but the input of former Scotland Int ltd employees implemented much of what needed to be done.

In later years things changed considerably again, as a good many former Scotland Int Ltd employees had never ever been happy with the merger and agitated to regain its Independence. However it is fair to say that a good number, some of who were direct descendants of the original sell out directors of Scotland Int Ltd, had personally more to gain from the newco than reverting back to the old company, and were very adverse to doing so, particularly those who had assimilated rather well in London.

Eventually however, and two international conflicts too many, GB Int ltd(England) had once again over stretched itself, and after a considerable number of Its foreign subsidiaries had left the fold, found that it was no longer viewed in such high regard and worse still the natives were restless.
By this point however, there had been some structural realignment taking place, and its Scotland sub division had its own small office in London, this was GB Int (England) Ltds Scottish Colonial office.
There had also been some restructuring done by something called the Barnett formula,which allowed for a fixed proportion of the revenues generated by the Scottish sub division to be returned for reinvestment in that sector. While previously GB Int Ltd (England) had full access to all of the Scottish Sub division assets and revenue, and gave back whatever it felt like, which was never a lot. This formula while still retaining claim to Scottish assets and revenue, now at least promised that the Scottish Raj under the control and oversight of the Scottish Colonial governor in the Scottish Colonial Office could be budgeted for in such a way that the more ignorant native wallahs would actually think that they were getting a good deal. The idea being having received all the Scottish Sub divisions income, they would receive back roughly a tenth of what was spent on maintenance in England. The best wheeze being to convince them that they were getting back more than what they were handing over, and the jolly jape worked really well for years.

It was at this point that the muck really hit the fan for GB Int Ltd(England) and it was declared officially Bankrupt. Then by great good fortune Oil and Gas had been found, with one rather huge fly in the ointment, most of it was in former Scotland Int Lts waters!
This really stirred up the employees of the former Scotland company, and soon there was an outcry demanding that Scotland Int Ltd be re-established and have its Head Office in Edinburgh back, with a say in how it managed its own assets and revenue, but still as part of GB Int Ltd(England)

This simply would Not do!
What the Directors of the GB Head office, with the collusion of its assimilated Scots directors did, was to summon a secret report from the Witchfinders General office and one of their number McCrone investigated and reported back. The Good news was that Trillionaires Lottery had been won! The Bad news, if the Scots found out, they would run away with all the Riches. What to do? Simple Answer.. pretend that the report didn’t exist, nobody had heard of it, and when asked how much Oil there was, say not very much, and it is bound to soon run out!
The US ENRON Scandal is listed as the Biggest Corporate Fraud of All Time at $78 Billion
But they are toddlers in the rank amateur scale when it comes to what GB Int Ltd (England) pulled off. And what is more they managed to bury it for over 30 years, and remarkably
most of the Scots Wallahs still don’t have a clue about it. Result!!!

Not only did GB Int (England) manage to escape with all the Oil, under Director General Thatcher, she set about rebuilding the South England London Division achieving great prosperity for the its operations, but as a double whammy set about Industrial sabotage on a grand scale dismantling the Scottish Sub divisions other major industries, casting Quarter of a Million employees on the scrap heap, causing extreme poverty and an increase in Ill health, and in unreported collusion with her counter parts in the Labour Directorate to convince all the Scottish proletariat that they had to rely on a state of dependency and be glad of it.

Those that followed Director General Thatcher in the role, Major Major, Smiler Blair, and Gawdno Brown…all worshipped at her feet and had her round for instruction and tea.
The Era of Boom and Bust had finally come to an end, when GB Int Ltd (England) went Bust…Again!! When the world financial crash happened and when they ran out of monopoly money, but somehow all passed Go without picking up a Go to Jail card.
Gawdno Brown got the sack, and his darling Darling, despite Darling promising that he was about to become Edward Scissorhands and Cut Cut Cut Deeper and Faster than the Sainted Margaret had ever done.

So here we are today…. with Cameron the Cleg in charge, and Ozzie Osbournes unclaimed Son ruining the economy and killing the Serfs at Break neck speed…It aint Bust till he says so…. The Deficit will come down, The Deficit will come down,The Deficit will come down….and out of sight of the TV screens at the dispatch box, he announces his spending cuts while clicking his ruby slippers together three times…opens his eyes and …..Oh Balls!!

They truly have found that the Empire has no clothes!

Meanwhile back in Scotland….Something really fishy is going on! YES indeed it is.

Nearly half the natives have woken up….They would have to….They can’t afford Bedrooms anymore.

Something called an EGM has been called for September the 18th next year..
But because nearly half the natives are still labouring about in some stupor from too much Red Red Wine….and the rest don’t know what side is up yet..Aye Naw don’t No….
They have their work all to do…..

While we wait to see what happens next….. We have the Breaking news that GB Int ltd (England) has just gone into hock Big Time with Wonga.com, and has come close to Default on its Interest rate payments of 500Trillion% APR ,and is shortly to be renamed Wonga UK.

Time to dissolve this Business partnership, nothing personal of course, its business after all. We can understand the extreme reluctance of our senior partners of course, but we have to look after our own interests and most importantly our own employees, before it is all too late and we lose the lot!
An equitable agreement on the division of assets and liabilities of course, and we are quite happy for a fair arrangement to be agreed. After all we are not an unreasonable people and we would hope to be able to work together to mutual advantage in the future, but that would be on truly equal terms as befits good neighbours.
We cannot afford however to dither on this, If we don’t make this vital decision now, it may never come again for a very long time,and we would be stuck with measures which will cause much pain and suffering to our families and ourselves, with no way to influence the main decisions which affect us most.

It’s not too late though….We can still cut loose from the detritus which is bringing us down, and set sail into international waters, fully provisioned and the world as our oyster.
MV Scotland has the Wind, the Tide the waves,and the fuel with us,and with our education and science and innovation we have the vision to go where we will…. And In Ourselves We Trust!

About auldacquaintance

I am not a member of any political party. I am however a strong supporter of Scots Independence. Any views which I express in this Blog are purely my own. This Blog intends to be a place where I will be putting my views on Scots Independence. It will primarily concern itself with the upcoming Referendum In Scotland. However It will also be somewhat diverse in the range of day to day issues which are evident to me in modern day Scotland. Not all of it will be political, and indeed may take me off into avenues I am not even aware of yet. Please come and join in on this journey, and any comments are welcome provided they are not abusive! All the best from a new acquaintance! Rod
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8 Responses to Wonga UK

  1. jr1969mr says:

    Fantastic, in my opinion this rates as one of your very very best

  2. Laura says:

    Ok, so you really seem to know your stuff… I wonder if you can help me with something – if Scotland had been independent at the time of the “banking crisis” would we not have gone under and had to declare ourselves bankrupt (much like Iceland)? Is it true that we only stayed afloat due to bailouts from Westminster? I appreciate that it’s a v complicated economic arguement, but I am pro-Independence trying hard to convince my undecided family that it’s the right call… Thanks for your thoughts.

    • It is very unlikely that Scotland would have gone bankrupt like Iceland. Iceland was an entirely different scenario… All they had other than banking was their Aluminium and fishing Industry really…and a population of only 300,000….just a bit bigger than Aberdeen.

      Whether they went Bankrupt or not is debatable….They just didn’t take responsibility for their Commercial Banks…and didn’t bail them out!
      In fact they imprisoned some of the Bankers for fraud!
      Currently they are recovering far better than the UK is.

      What decisions an Independent Scotland would have taken I don’t know?
      Our major banks headquartered here, and originally scottish…Bof S and RBS… were no longer strictly Scottish Banks and were rather more International Companies. Doing 90% of their Business through London..
      The arrangement that was made internationally was that countries bailed these banks out for the business they were doing in the country bailing them out… Hence Banks were bailed out across borders, Belgium and france and Holland taking their share of say a French banks losses in these countries.

      So UK DID not Bail RBS and BoS out in their entirety, much of their losses were picked up all over the globe, America and elsewhere.
      The UKs major problem was not the Scottish Banks, but having to Bail banks out from everywhere in the world who were doing their business in London.
      So they were bailing out American Banks, Dutch Banks, German Banks etc for the losses they made in London.
      London being the worlds financial hub, where all the world passes its money through… There lies the nub of the problem.

      In effect we are stumping up for London…and we are stumping up for a proportion of the worlds financial mess…

      Hope this helps to answer your question Laura.

  3. balgayboy says:

    Very good article AA, also your reply to Laura was clear & concise but more importantly true. Never understood how people believed because the name Scotland was in the banks brand name meant that it had all it’s business based in Scotland. I believe the RBS was one of the top 5 international banks before the 2008 crash. Independence for Scotland would be good for the business of the Scottish nation and more importantly the people of Scotland.

  4. Great article, but you forgot to say, and I’m sure it was an oversight, why ‘your staff were particularly good at running many departments of the new company,’ and of course the public knows that was because the folk of Scotland Int were far better educated than the employees of England Int, and of course the descendents of the sell-out directors had much to gain in maintaining the new ‘Union,’ like un-elected seats in the second chamber of the new board-room, garden parties thrown by the Monarch, seats in the Royal Box at Wimbledon etc. As for the re-structuring, you also forgot, and again I’m sure it was an oversight, that the share-holders of North Britain Inc had finally been given a vote in the company. However, despite the original ‘extreme industrial action’ taken way back before the merger, some of the work force, what was left of it, had taken on the view point of Newco England, who is after all controlling their purse strings. Even ‘though a new Newco Scotland is offering them back the freedom they lost before, instead of taking it with joy and relief, they attack the ones who are offering it viciously, in defence of GB Int. They seem to believe, now, that they can’t exist without GB Int Ltd (England,) and it looks to me as if a lot of them are exhibiting the symptoms of Stockholm Syndrome.
    I finally got that all off my mind! And see yon man in the Scottish Office, was that the Vice Roy?

  5. Interesting read, but you realise that the SNP’s indy-pretence, should it be a reality, will mean that the Head Office is in Brussels? And with 90% of the EU’s oil, we will be expected to pay a king’s ransom in annual contributions. We will end up bailing out every other country, including GB Int Ltd (England), until we are broke ourselves.

    • Interesting perspective you have there.
      In case you hadn’t noticed, according to your reasoning…Currently the UK’s head office is Brussels, and GB(England) and lt is bailing out the rest of Europe through our Oil generation!
      Somehow I can’t see that happening…Have you informed Westminster of this turn of events?

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