Icesave and Iceland government are scammers!

climbgirl

Cactus_Jack wrote: »

If the points in the OP are true, I want to see people going to jail over the Icesave fiasco.

We must all organise ourselves to try to serve some justice. Maybe we should sue Iceland due to the stress!

I'm proud the Government has guaranteed my savings.

Me too (and eternally grateful!).

Do we have anyone amongst us with legal experience? What exactly are the laws around making false statements about a company's position?

player

What really got me was the way they blocked UK savers from withdrawing their money and allowed local based depositors to withdraw theirs. They knew the bank was going under and they blocked us from taking our cash out knowing that it would subsidies the locals withdrawals.

GeorgeHowell

player wrote: »

What really got me was the way they blocked UK savers from withdrawing their money and allowed local based depositors to withdraw theirs. They knew the bank was going under and they blocked us from taking our cash out knowing that it would subsidies the locals withdrawals.

That exactly demonstrates the problem with putting money in foreign based banks. When the chips are down they will look after number one and the Queensbury Rules go right out of the window.

Do not risk it.

riad_2

Absolutely disgusted that Iceland has stuck up two fingers in refusing to honour their guarantee scheme which we now know isn't worth even a dirty piece of toilet paper!

Their PM is a disgrace, looking all honourable on TV saying there will be enough assets to pay out, while at the same time having absolutely no intention of paying out a single penny (as AD was told moments later). Thieves if you ask me.

I hope the UK government is vigilant in their legal action and claim damages for every single penny of the 20,000 Euros that Iceland's passport scheme allegedly "covered".

Thank you Alistair.

bazster

Count_Dante wrote: »

I would say the Santander (Spanish) owned banks are OK, at least for now...

Well the government rescued the B+B deposits by handing them over to Santander, thereby putting them in the same place as the Abbey, so if B+B was too big to be allowed to fail then even more so B+B *and* Abbey!

Also, Santander was one of the eight banks participating in the colossal refinancing announced by the government today.

kiter

totally agree with original post and grateful to our government, I'll be keeping my cash in the uk in future.

MiserlyMartin

I wouldn't get too carried away with Darling and Brown appearing to be heroes to get the money back. They are scoring political points. Would you believe what they told the media regarding what Darling has been told by Iceland? And if it were true, they still have to take legal action. With these incompetants in charge I wouldn't hold our breaths.

GeorgeHowell

New Labour has been conning the majority of a gullible and 'grateful' electorate for the past decade. Clearly some are still grateful to them, but I suspect that these are predominantly part of their client state that they have nurtured at the expense of everyone else. Hopefully the overall gratitude will not extend to giving them another term, but given the political and economic ignorance and short-term thinking of large swathes of the electorate it cannot be ruled out entirely.

sheslookinhot

MiserlyMartin wrote: »

I wouldn't get too carried away with Darling and Brown appearing to be heroes to get the money back. They are scoring political points. Would you believe what they told the media regarding what Darling has been told by Iceland? And if it were true, they still have to take legal action. With these incompetants in charge I wouldn't hold our breaths.

What a disgraceful response. Our government have rescued hopes and financial stability of hundreds of thousands of our countrymen and deserve great credit.

amcluesent

>Don't risk it -- get out of foreign banks now -- please<

Why? HMG is covering 100% losses, moral hazard be damned. The Bank of Nigeria has a very attractive 15% 1 year bond at the moment; reckon I'll fill my boots and then wait for the compo.