Alistair Darling has just said they are gonna try to help IceSave customers

IT_nerd

Freeze all UK icelandic assets to the sum of £4bn.

setmefree

agent_orange wrote: »

Setmefree, good morning to you.
I think you realise, should these banks be left to go 'pop', we will be talking about real poverty in this country. You should hope this helps prop up the economy, otherwise the consequences are dire. Remember, World War 2 resulted from the effects of the great depression.

agent orange, good morning to you.
Perhaps you should also remember that these pensioners who are now living in poverty are the ones who faught in WW2 to make Britain what it is,and without these we would now have nothing,much the same as they have now..
And to be honest agent orange,many familes are already struggling to live day by day,and hey presto all of those that have had their properties taken from are the same people now bailing out the Banking Industry through their hard earned tax.

AdamC_2

IT_nerd wrote: »

Freeze all UK icelandic assets to the sum of £4bn.

I agree. A lot of money has been made out of the UK by Icelanders. If their Govt. turn round and stick two fingers up at Brits, then we should just grab everything Baugur, Bakkavor, etc. have, before they have an opportunity to sell up and retreat to the protection of their corrupt/immoral/naive (you choose) country with the cash.

Just to clarify, though, they can keep West Ham...

Bunk

Whilst this is great news I just hope there isn't a sting in the tail with timescales. I'm lucky that I don't rely on my Icesave savings to get by but there are many out there that do, so I hope the governments plan is clearly defined in how it will get money back to us.

nilrem_2

AdamC wrote: »

Covering amounts over £50k? I didn't get that impression. I can understand how he may feel a little obliged to cover the Icelandic contribution, based on the UK authorities not checking whether the Icelandic 'guarantee' was worth the paper it was written on, but paying out 'over £50k? Well, he can easily turn around and say it was pretty clear to everyone the limits of the UK support, which it was.

AD said he would ensure that all Icesave customers get their money back, the interviewer said "what the first £50,000" Ad said "No all of it!"

MarketRisk

hello,

i've emailed alistair darling at:

[EMAIL="darlinga@parliament.uk"]darlinga@parliament.uk[/EMAIL]

to give him a big thank you. all my family's life savings would have been wiped out and we are classified as "living in poverty" and it would have been all my fault, because i thought it was just a safe, high-interest uk-based and hence uk-backed, deposit account.

perhaps others might like to say thank you. i really, really hope this is a guarantee for the first 16.5K that the icelandic government aren't covering. i will never knowingly buy anything from iceland again.

l33tsp33k

IT_nerd wrote: »

Freeze all UK icelandic assets to the sum of £4bn.

Nationalise West Ham?!!

Liz_the_Whizz

setmefree

I understand and agree with the sentiment.

But if the Government doesn't intervene right now to bolster confidence, then many more people will be catapulted into the poverty trap as the effects of this filter through the economy.

It's not just about rescuing banks anymore.

Hold onto your ha'penny

nilrem_2

MarketRisk wrote: »

i've emailed alistair darling at:

[EMAIL="darlinga@parliament.uk"]darlinga@parliament.uk[/EMAIL]

to give him a big thank you. all my family's life savings would have been wiped out and we are classified as "living in poverty" and it would have been all my fault, because i thought it was just a safe, high-interest uk-based and hence uk-backed, deposit account.

perhaps others might like to say thank you. i really, really hope this is a guarantee for the first 16.5K that the icelandic government aren't covering. i will never knowingly buy anything from iceland again.

Thanks, I have already done so.

darktrader

outof wrote: »

me too. This was an (understandable) failure of regulation and it's hugely courageous of the government not to abandon us now.

I feel a little ambivalent towards people with savings over 50K (who were very well warned) but if it stops a panic, it could still be worth saving them.

Voting Labour :rolleyes:

Whilst genuinely overjoyed for those misguided savers who will now be saved from any financial loss I fail to see why the current government should be rewarded.

They will be using Taxpayers money or money from other Banks to finance this. Quite rightly, but it is NOT the government's money; it is ours. Either as Taxpayers or as sensible savers in British Banks and Building Societies. Those of us who are content with a reasonable return and not constantly chasing those eye-catching, Internet-Only higher rate Savings.

It is also a risky precedent. Anyone about to have their home repossessed hearing this might be thinking "Why don't they help me?" Or the Buy-To-Let Landlord, or those who have lost out on the Stock Market...Where does it end?

I repeat, this was the right thing to do. Any sitting Government would have done the same in current circumstances. But before you all decide to vote Labour at the next Election because of this, don't forget that the seeds of this debacle were sown during their administration and they stood by and watched. 125% mortgages, 7xSalary multiples, flagrant breaking of what little regulation there was by the Mortgage Industry, an ineffective and toothless FSA (Until very recently) Buy-To-Let tax breaks for Landlords, Internet-only Savings, the tacit Government encouragement for excessive borrowing and the rise of Personal Debt, the oft-repeated phrase "The end of Boom and Bust..." the silence on Bonus-driven short term instant results in Banks and Investment Institutions. All in all their record is appaling.

So, no. I won't be voting Labour at the next Election. And I pity whoever wins the inheritance they will be left with.