Fri Oct 10th, 2008 at 05:39:04 AM EST
From the Panic Room comes this report by the Financial Times: Warning on use of anti-terror law on banks (October 10 2008)
The use of anti-terror powers to freeze billions of pounds of Icelandic bank assets in Britain is a distortion of the law’s intent and risks further gumming up the ailing financial system, legal experts warned on Thursday.
Financial crime lawyers said the government’s unprecedented decision to apply the freezing order for purposes other than tackling terrorism opened the way to its use in other cases centred on commercial and political interests.
The Treasury’s action on Wednesday to protect the deposits of British account holders has highlighted broader concerns that some security-related laws passed since the September 11 2001 terrorist attacks are so widely drafted they are open to abuse.
If this is what it takes for the Very Serious People™ to realise that the post-9/11 laws are "so widely drafted they are open to abuse", so be it. Now let's work to get them repealed or at least the language tightened.