Icesave crisis - What happens to those of us with above £50k in our account?

Scrapmouse

My losses will be about £12000. Not a fortune but as I was widowed in May, they are vital to my future. I could not remove them from Icesave as I am waiting for Letters of Probate and can't touch my husband's ISAs until they are granted. I am totally gutted and worried beyond belief.

islandannie

Dustangle wrote: »

How are they crooks? They didn't hide anything, did they? You had all the information you needed to make a decision, you made your decision, and the logic of lending money to an institution which comes from a country whose national debt was 500% of its GDP unravelled. Now you are proposing a fraudulent scheme.

You seem to be the crook here.

Nasty, insensitive and totally uncalled for.

former_student

nicholbb wrote: »

This won't help Icesave customers unless it's passed before the bank goes into liquidation.:(

You may have a point but I would be surprised if the UK government lets any of its citizens take a loss when Icelantic residents are fully protected.

GEOFFREYK

former_student wrote: »

You may have a point but I would be surprised if the UK government lets any of its citizens take a loss when Icelantic residents are fully protected.

sORRY MY FRIEND THIS IS JUST WHAT BROWN WAS WAITING FOR,SACRIFICE 15-20K SAVERS WHO WOULDNT VOTE FOR HIM, SHOW THE REST HOW TUFF HE IS.

edwinac_2

martinman3 wrote: »

Preventing UK savers from accessing their accounts while Landsbanki carried on.

I agree.

I would think that was actually a criminal offence - contriving an "IT failure" to prevent Icesave customers from withdrawing their money before the bank collapsed.

At the time, the message on Icesave's webpage read:...

You are now entering the Icesave log in area.

We have been experiencing intermittent faults with our website over the last 12 hours. These were
intermittent faults randomly affecting different groups of customers at random intervals. Our IT team has now resolved the issue. We apologise for any inconvenience these faults may have caused.

The order to do something as serious as staging an IT failure could only have come from the boardroom.

One of the Icesave shills, "isofa", continued even as late as the evening of 6th October to downplay the gravity of the crisis at the bank.

"isofa" strongly disputed that the IT failure was staged as a means of stemming the capital flow out of Icesave.

As an avenue of criminal investigation, that allegation is well worth pursuing, IMO...

Andrew64

Who in Britain is responsible for Icesave who could be prosecuted?

withabix

l33tsp33k wrote: »

It's not your taxes, it's the other banks that operate in the UK that pay for the FSCS.

If there's not enough in the pot from them, the FSCS can borrow from the government, but has to pay it back over time, with interest.

Mike

It IS our taxes, because the banks are running out of money.

Where else do you think the necessary 'investment' will be funded from???

Why else has Gonad Brown partially nationalised the UK banks this morning??

Paying back other people's lost risky offshore investments? Not in my name!

withabix

former_student wrote: »

You may have a point but I would be surprised if the UK government lets any of its citizens take a loss when Icelantic residents are fully protected.

It should let UK citizens take the loss, as they were investing in banks in foreign countries to get higher returns.

Higher return = Higher risk

Not our problem to resolve.

1+1=3

As this is the over £50,000 thread, I'd just like to say a mighty phew! and thank god for Alistair Darling. He's got us off the hook, and he's saved me from my own stupidity.