I love you, Darling

ebyard

Thanks Mr. Darling - you have given a great many people relief.

I could never see a Tory government doing what he has done to save the economy and let ordinary hard working people know their money is safe!

BIG thanks to everyone on MSE and to the scaremongering types on here and on BBC Schnews 24, f**k you, I'm glad you have no more bad news on Icesave to report, though it would have made your day, I am sure....

ballyblack

Thank Darling for nothing!!

You didn't regulate properly by permitting these thieving Viking raiders to operate as saving banks here with no guarantees.

The least you can do now is compensate the UK saver.

IT_nerd

Shouldn't darling of technically judged whether or not the passport system would work, then stop or allow the bank to operate in this country.
If he didn't do that, shame on him.
If he did do that and came to the conclusion that an £88m kitty could cover £4bn in savings then.. Shame on him.
This is the least he can do.

angelus

Alistair Darling has secured my vote for Labour at the next election regardless of what they do from now till then. He has just saved my life savings and those of thousands of others.

Darling you are a hero! :j:beer::T

bristolleedsfan

dragonsoup wrote: »

Personally I'd wait til I saw the small print first.

Devil is always in the detail with New Labour.

Poster No 4 has summed things up well IMO. :T

darktrader

angelus wrote: »

Alistair Darling has secured my vote for Labour at the next election regardless of what they do from now till then. He has just saved my life savings and those of thousands of others.

Darling you are a hero! :j:beer::T

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.

moneymass

angelus wrote: »

Alistair Darling has secured my vote for Labour at the next election regardless of what they do from now till then. He has just saved my life savings and those of thousands of others.

Darling you are a hero! :j:beer::T

oh snap

cheggers

I feel sorry for all that have savings with Icesave.

Half the problem at the moment with the economic climate is the media, it all started when they reported the bank of england loan to the Northern Rock. The next day folks were queing round the block to close there accounts.

Ban the media from reporting on the events, suspend the stock market trading for a week and let the economy gain some confidence.

If not were all going to have all our cash hidden under our beds in a biscuit tin.:mad: :mad:

m_c_s

Nothing has changed, he has only given a verbal guarantee!
And he will have to sue government of Iceland to get the money!

IT_nerd

m_c_s wrote: »

Nothing has changed, he has only given a verbal guarantee!
And he will have to sue government of Iceland to get the money!

I'm pretty sure he will borrow the money, pay us, then sue.
It could take years for iceland to pay back that money.

payless

I think there is a good arguement that as UK regulators had accepted the passport agreement ( ie guaranting the bit after the initial part covered by Iceland govt ) He does perhaps have a moral obligation to cover the first bit, so long as they go after the money from the Iceland Govt afterwards ( one way or another) , but not sure he should be taking liability for over the £50K limit in this case - esp as this money will no doubt have to come partly from tax payers and partly from other banks/ financials - where will those having to pay now go to if it all runs out