Icesave/Kaupthing - is Martin to blame?

wes88

Ivana_B_Rich wrote: »

I looked on this site for advice. Based on that I made my own decisions.

You based your decision on the info this site was given.

I can understand why you'd be annoyed with the site now. The Expert part of the name must be changed to something reflecting reality a bit more.

nico26

Im following events from Malaysia. Cnn is the main news. They are reporting today that lots of English councils have millions of money invested in Iceland. I dont think they would be reading MSE.They never saw it coming and got out. So how can you blame Martin. When HBOS was in the headlines I had to make up my mind whether to move or stay.I stayed despite people on the forum saying get out.You make your own decisions in life and unfortunately for some is turning into a nightmare.I really feel for you but Martin cannot be blamed for your decisions.

Former_MSE_Dan

31May2008 wrote: »

This from Martin's blog yesterday:

"Yet for the last seven months, every note on the site that mentions Icesave has included a large WARNING, explaining it’s not protected like other banks due to the ‘passport exemption’ system... "

Not true. The word 'warning' was never used, large or otherwise.

#

To allow MoneySavers to see the true facts here, this is the text posted alongside every Icesave mention for the past seven months. It doesn't use the word warning, but does make it clear that this is important info to be considered.

No other best buy table recommending Icesave included a notice like this

IMPORTANT. Icesave, unlike some foreign banks, hasn’t chosen to be completely protected under the UK's Financial Services Compensation Scheme, and thus if, in the unlikely event that it were to go bust, getting the money back could be more difficult. See the Are Your Savings Safe? guide for a full explanation, and Martin’s Icesave safety blog.

man_in_black_3

well next to nowt in my normal accounts, had it all in k/e and icesave.
hope there,s a outcome soon. tried to log on to icesave this morning no joy,tried putting in reset keeps telling me i am locked out and to ring them, done this no joy can not get through,should have had a direct transfer from k/e this morning, no sight of it yet, i am not going to hold my breath.
i know there,s thousands of people in the same fix closed there accounts and now there money is in hyper space, anyone got any ideas how to track it down.

ThrobsBlackHat

wes88 wrote: »

You based your decision on the info this site was given.

I can understand why you'd be annoyed with the site now. The Expert part of the name must be changed to something reflecting reality a bit more.

What is that then?

"moneysavingnotanexpertbutabletoreadthefuturebutevenifIknewwhatthefuturewasIwouldnottellyoubecausethatwouldconstitutefinancialadvice.com

Martin is an expert in paying less money, that is, saving money, making him a money saving expert.

wes88

ThrobsBlackHat wrote: »

What is that then?

"moneysavingnotanexpertbutabletoreadthefuturebutevenifIknewwhatthefuturewasIwouldnottellyoubecausethatwouldconstitutefinancialadvice.com

Martin is an expert in paying less money, that is, saving money, making him a money saving expert.

Good spot .. I agree ... what was he doing trying to give financial advice out .... seems odd when, as you say, he clearly has never sought to be seen as a money saving expert .... it clearly means saving money expert and definately not money saving expert.

And, you're right, to also call himself a "financial guru" on TV is ridiculous when, as you say, he really means he knows a few ways to get refunds, cashbacks and 2 for 1 vouchers. (which is saving money of course and not money saving .. he is clearly not portraying himself as a money saving expert)

I dont why some people have difficulty understanding that when he calls the site money saving expert he really means saving money expert .. and definately not anything to do with being a money saving expert.

wes88

MSE_Dan wrote: »

#

To allow MoneySavers to see the true facts here, this is the text posted alongside every Icesave mention for the past seven months. It doesn't use the word warning, but does make it clear that this is important info to be considered.

No other best buy table recommending Icesave included a notice like this

Is this the "large WARNING" Martin was talking about? (his capitals not mine Im afraid).

winebox

ThrobsBlackHat wrote: »

What is that then?

"moneysavingnotanexpertbutabletoreadthefuturebutevenifIknewwhatthefuturewasIwouldnottellyoubecausethatwouldconstitutefinancialadvice.com

Martin is an expert in paying less money, that is, saving money, making him a money saving expert.

:rotfl: :rotfl: :rotfl: :rotfl:

My OH has several thou with Icesave & he's never heard of this website, prob also true of thousands of other investors.

Which proves what? Well, not sure actually, but this thread is making MSE viewers sound like the only victims....I fully concur with all earlier posts that anyone's "advice" does not constitute an order to act accordingly.

Former_MSE_Dan

Hi wes88,

Yes, this was the warning

IMPORTANT. Icesave, unlike some foreign banks, hasn’t chosen to be completely protected under the UK's Financial Services Compensation Scheme, and thus if, in the unlikely event that it were to go bust, getting the money back could be more difficult. See the Are Your Savings Safe? guide for a full explanation, and Martin’s Icesave safety blog.

We are very transparent here and wanted to inform people of exactly what we posted, next to every Icesave mention on the site, something we do with NO other product on the site.

I believe this sufficiently covered everything we knew without the advantage of hindsight. MoneySavers can make up their own minds about whether they agree. To emphasise once again, none of the glut of comparison sites and newpaper best buy tables that I saw recommending Icesave pointed out this information.

Thanks

Dan

Former_MSE_Forum_Manager

To 31 May 2008

We are happy for you to disagree and i think we've done our best to allow debate. However the post i've just removed from you is personal. You can factually disagree, that's fine, but if you continue to make it a personal crusade we will remove the posts.

I think this is fair.