Martin Lewis apologies thread

genny

edwinacs behavious is an utter disgrace - and I believe people like this should leave this forum or be banned. Suggesting that isofa is somehow responsible for someone losing money for (they won't) is LIBEL, and I'm wonder how the forum team will respond.

I hope someone with isofas time and knowledge won't be put off from contributing from such a one great site.

Everyone has a free choice to save where they see fit, there are multitudes of sites to research, you make your OWN decision, and you cannot blame others for your misfortune.

However as no one will lose money, not sure what the misfortune is.

Incidentally edwinac as insisted people reveal "who they are", he thought I worked for a bank - I'm a teacher. Yet won't reveal himself, he also appears not be affect by the Icesave issue, and is simple a troll.

As a recent post said, don't feed the trolls.

Stavros_3

genny wrote: »

Suggesting that isofa is somehow responsible for someone losing money for (they won't) is LIBEL, and I'm wonder how the forum team will respond.

It has already been reported this morning. Absolutely disgraceful conduct

Edinburghlass_2

buyerbeware wrote: »

'The site is free from ads'

That is the claim, but not everyone believes it.

Despite several people telling you otherwise, including Martin, you still don't seem to grasp the facts of this.

The site is ad free, however there are affiliate links which have a monetary gain to MSE which enables Martin to run the forums at no charge to the users and donate large amounts of money to charity.

player

I'm not hypocritical enough to criticise Martin, I haven't since the recent news and I won't in the future. I have used this site as an excellent recourse and will continue to do so. Fortunately Darlings announcement to safe guard icesave savings has somewhat alleviated my fears of recent days.

What I will say is that I will scrutinise all my future investments much more closely and be a whole lot more cynical towards advice from the likes of Martin.

edwinac_2

genny wrote: »

edwinacs behavious is an utter disgrace - Suggesting that isofa is somehow responsible for someone losing money for (they won't) is LIBEL, and I'm wonder how the forum team will respond.

I hope someone with isofas time and knowledge won't be put off from contributing from such a one great site.

Are you serious!? That great fount of financial "knowledge" known as "isofa" claims to have invested way above the £50k FSCS threshold in a heavily overstretched tin-pot bank in a sparsely populated island in the North Atlantic.

Worse still, he realised what a mess he was in and sought to bolster Icesave's reserves by encouraging others on this forum into jeopardising their own savings by investing in the failing bank.

In your eyes, that nevertheless makes him an expert who has useful contributions to offer! I despair!

However as no one will lose money, not sure what the misfortune is.

Yes, people *have* lost money. One lady has lost the interest on £500,000, and will have the inconvenience of losing her capital for an unknown length of time. The interest alone is worth over £1,000 a month.

Incidentally edwinac as insisted people reveal "who they are", he thought I worked for a bank

I never said you worked in a bank, I said you were a "shill" with an unstated agenda.

wikipedia wrote:

A shill is an associate of a person selling goods or services or a political group, who pretends no association to the seller/group and assumes the air of an enthusiastic customer.

The intention of the shill is, using crowd psychology, to encourage others unaware of the set-up to purchase said goods or services or support the political group's ideological claims. Shills are often employed by confidence artists. In the UK the term plant is also used.

Shilling is illegal in many circumstances and in many jurisdictions because of the frequently fraudulent and damaging character of their actions.

As for my own background, I have no professional connection with banking whatsoever, although I reckon I have some pretty good contacts in international finance and politics..

He also appears not be affect by the Icesave issue....

I count myself lucky to have escaped the collapse of Icesave, but that is no thanks to posters like you, who told everyone the bank was perfectly sound, and how people like me were crazy "scaremongers" (you said that at least four times).

After the event, you had the cheek to return, claiming that noone could have foreseen the collapse of Icesave yesterday. I'm sorry but that is just not true!

Former_MSE_Forum_Manager

buyerbeware wrote: »

'The site is free from ads'

It seems a different current thread called something like 'this site has ads' has been removed. Can anyone find it, please? I contributed a post to it but I can't find it now. Thank you.

Do you mean > THIS ONE <

It hasn't been removed. It was moved as it's a thread on forum / site policy, not specific to the Savings board

genny

edwinac wrote: »

Are you serious!? That great fount of financial "knowledge" known as "isofa" claims to have invested way above the £50k FSCS threshold in a heavily overstretched tin-pot bank in a sparsely populated island in the North Atlantic.

Hundreds of us did and recommended the bank.

300,000 of UK savers did.

isofa and others, over and over again posted about the protection scheme, in detail when people were losing their heads yesterday, utterly accurate and informed, calming done the panic, with many regulars who have posted here this morning.

They also warned the potential danger of investing over 50K, although even that now isn't a worry, as the government are guaranteeing all money.

Al you have ever sought to do is inflame and upset the balance. You must have a very empty life.

edwinac wrote: »

Yes, people *have* lost money. One lady has lost the interest on £500,000, and will have the inconvenience of losing her capital for an unknown length of time. The interest alone is worth over £1,000 a month.

No one has lost money. This woman was utterly foolish to save such a massive amount in one organisation anywhere.

She may well lose some interest, but she will not lose any capital at all. She should feel very lucky. She ignored all advice available on every website, forum, newspaper; and saved 10 times the recommended rate. That is not my fault, not isofas, not Martins, nor anyone elses here but her OWN.

edwinac wrote: »

I never said you worked in a bank, I said you were a "shill" with an unstated agenda.

Well again you've breached the sites T+Cs by falsely accusing people, you've not read the link you were advised to earlier I assume, to NOT accuse people nor raise personal insults.

I'm not a shill, for God sake how many times do you have to be told. You are incredibly dense.

Only the truly poorly researched would ever quote from wikipedia, a site so full of errors and contraditions that we ban our A level students from quoting from it.

edwinac wrote: »

As for my own background, I have no professional connection with banking whatsoever, although I reckon I have some pretty good contacts in international finance and politics..

Then why on earth if you have these "pretty good contacts" are you trawling and trolling the MSE forums? Obviously YOU have a hidden agenda.

Why on earth have you become a commentator on a situation that doesn't even affect you - you must have some serious time on your hands to waste.

edwinac wrote: »

I count myself lucky to have escaped the collapse of Icesave, but that is no thanks to posters like you, who told everyone the bank was perfectly sound, and how people like me were crazy "scaremongers" (you said that at least four times).
After the event, you had the cheek to return, claiming that noone could have foreseen the collapse of Icesave yesterday. I'm sorry but that is just not true!

Well how very magnanimous of you. After I last checked you didn't run, nor moderate this forum.

I have every right to return and post, I have money at risk - you DO NOT, though I'm not massively worried now as IT IS PROTECTED as said a million times before.

The start of a mass withdrawal did worsen things for the bank, it always will do. If you are such an expert you'd have looked at the historic run on banks, and trying to prevent this was always a good thing.

I really don't understand your vicious, nasty and incredibly rude agenda.

And finally

edwinac wrote:

Well, my posting record, albeit a somewhat shorter record than yours, will be judged, I hope, on its quality rather than its quantity.

Oh it certainly will by all accounts, although if you fail to understand irony, I suggest you change quality for another word just for clarity.

Stavros_3

edwinac wrote: »

Worse still, he realised what a mess he was in and sought to bolster Icesave's reserves by encouraging others on this forum into jeopardising their own savings by investing in the failing bank.
Absolute twaddle

Yes, people *have* lost money. One lady has lost the interest on £500,000, and will have the inconvenience of losing her capital for an unknown length of time. The interest alone is worth over £1,000 a month.
Anyone who loses money has my absolute sympathy, BUT we are repeatadly told to spread our investments round, and keep them below the FSCS gaurantee level in fact Martin has always preached this. If you decide to put all your eggs in 1 basket (and I have) then you run the risk sadly of losing if the bank goes to the wall.Thankfully this lady will lose none of her capital, but the choice was her's to put half a million quid in one account

Leave this poster alone, your conduct is becoming obsessive and is bordering on Bullying.

BigTezza

I don't post here often so apologies if this has the wrong icons and doesn't look the dogs bits.

I just wanted to say that from my point of view I was stressed, worried and livid when I found out I couldn't access MY money and all the subsequent goings on regarding Icesave. I think it's human nature to look for a blame target and yes, I confess I originally thought "That chap on MSE said it was a good thing and he acts like he knows it all so it must be his fault! I bet he doesn't have his savings with them the smug little..." etc etc.

However, I then plugged my brain in (albeit on low power). Nobody forced me to save with them and nobody could foresee this current worldwide financial meltdown. I checked all sorts of comparison sites and spoke to my IFA before I put my money in Icesave and everyone gave me the thumbs up because at the time the thought of a bank going bust was a nonsense. I may be getting on in years but I don't remember any statement by Martin saying "Invest in this bank or I'll come over and slap you."

My anger is now directed solely at those cod munching, lying, incompetent chunky sweaters who run the Icelandic banking system. Like a lot of people I started getting a bit nervy a week or so ago and fell for the statement on the Icesave website saying that everything was going to be fine and dandy. Trusting a bank - how could I have been so stupid! So I'm angry with myself too.

I gather that natives of that island are able to get hold of their cash and accounts as normal today and it's only non-islanders who are locked out. Nice!! Surely that breaches some kind of international law - we seem to have laws for everything else these days.

Life is a series of lessons and I guess this episode has taught me several things. These include not to trust a "foreign" bank even if they're backed by Midas himself, despite the wealth of research you may do and the advice you take you may still drop a b*llock, the ultimate decision is mine and if in doubt play safe (whatever that means today) and if I ever meet any of the Directors of this bank I'll make sure I'm carrying nails, a big hammer, some pliers and a blowtorch :mad:

edwinac_2

genny wrote: »

The start of a mass withdrawal did worsen things for the bank, it always will do. If you are such an expert you'd have looked at the historic run on banks, and trying to prevent this was always a good thing.

At last we see the truth! You actually admit you had an unstated agenda!

For your own pecuniary advantage, you figured it a "good thing" to "prevent a run" by posting falsely positive messages about Icesave, a bank which you knew was in grave danger of collapse.

Since you've decided to gravitate on this thread, I want to bring across a message about the mysterious "IT failure" at Icesave on Monday night, which you seem reticent to address.

Previously, you wouldn't let us explore your claims that nothing sinister had occurred with the Icesave web service. Perhaps we can have another look at that now.

For 12 hours or more, Icesave claimed that "random" "faults" at "random intervals" prevented "random" groups of savers from withdrawing their funds from the stricken bank.

You claim there was no conspiracy to stem the flow of capital from Icesave.

But then you claim elsewhere that freezing customer accounts for purely commercial reasons, even without a Court Order, was a perfectly legitimate banking practice.

Either there was a conspiracy in which the bank froze accounts to stop withdrawals, or there was no conspiracy, and these were genuine faults that lasted an astonishing twelve hours!

I say the bank's action was anything but legitimate. In fact I would hazard that blocking access to customer accounts, given the extent of the crisis, could be criminal in nature, too.

However, if you have proof that this is all wrong, then please furnish it now.