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Martin Lewis roasted for giving "diabolical" advice on C4
Comments
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Are you a banker? You never seem to answer the question despite being asked by many posters in many threads who are convinced you are indeed a big banker.
I've already said no to this in two different posts. Suggest that you read replies before firing off.No-one would remember the Good Samaritan if he'd only had good intentions. He had money as well.
The problem with socialism is that eventually you run out of other people's money.
Margaret Thatcher0 -
Martin_Discredited wrote: »Speculate away. I am just someone who had money with KE who is annoyed about the advice I was given.
I didn't think Moneysupermarket was a competitor as you recommend using them n many articles I have read. Also aren't you non profit making? That would mean you don't have competitors.
You were not given advice, you made the choice take some responsibility for your actions however some good news for you as your in KE
ING DIRECT UK HAS SIGNED AN AGREEMENT WITH THE UK TREASURY TO TAKE OVER £2.5 BILLION DEPOSITS FROM KAUPTHING EDGE AND £538 MILLION DEPOSITS FROM HERITABLE BANK
What does this mean for you? Is it true you are taking over Kaupthing Edge and Heritable Bank?
We are pleased to confirm that we have signed an agreement with the UK Treasury to acquire £2.5 billion in deposits and 160,000 customers from Kaupthing Edge as well as £538 million in savings deposits, held by 22,200 customers from Heritable Bank.
ING Direct is in a position of strength. We are very pleased to have been able to take such rapid and decisive action that has provided Heritable Bank's customers, and those of Kaupthing Edge, with the reassurances they need. We are working to rapidly ensure that it is business as normal for all customers. We look forward to extending our approach of offering simple and straight-forward products backed by award-winning customer service to our new customers.
I am an existing Kaupthing Edge and Heritable Bank customer. What does that mean to my account?
This means that the savings you currently have with Kaupthing Edge and Heritable Bank are safe.
In the short term your accounts will continue to operate in the same way using the same contact details, so you will not see any change. Your accounts will be managed by ING Direct.
As a customer with us you now have the added reassurance that your savings are protected under the Dutch National Bank’s Deposit Guarantee Scheme for up to €100,000 (approx £77,700) per depositor and therefore €200,000 (approx £155,400) for a joint account.
Can I continue to transact on my Kaupthing Edge and/or Heritable Bank account?
Yes – please continue to access your account in the same way using the same contact channels as normal (via phone or web).
Are my savings with you safe and secure?
You have the reassurance that your savings are with ING Direct, we are wholly owned by the Dutch ING Group which announced net profits of £2.8 billion in the first 6 months of 2008. ING is one of the world’s largest financial institutions with assets of over £1 Trillion and 85 million customers. ING Group has one of the highest credit ratings in the financial services industry. AA-credit rated as measured by Standard and Poor’s.
The Dutch economy is one of the strongest with a AAA (triple A) rating which is exactly the same credit rating as the UK.
As a customer with us you now have the added reassurance that your savings are protected under the Dutch National Bank’s Deposit Guarantee Scheme for up to €100,000 (approx £77,700) per depositor and therefore €200,000 (approx £155,400) for a joint account.
I have an account with ING Direct and Kaupthing Edge / Heritable Bank, what compensation cover do I now have?
Your ING Direct savings are protected by the Dutch National Bank’s Deposit Guarantee Scheme which has increased its guarantee to €100,000 (approx £77,700) per person. This covers all the accounts you may hold with ING Direct, Kaupthing Edge and Heritable Bank.
http://www.ingdirect.co.uk/general/faqs/keandhb.asp"The whole problem with the world is that fools and fanatics are always so certain of themselves, but wiser people so full of doubts."
Bertrand Russell. British author, mathematician, & philosopher (1872 - 1970)0 -
No, not compeitors, just sad little people who like to undermine
Everyone is entitled to their opinion, not just you.
There is no need for you, aswell as others, to look down their nose at people or assume some kind of commercial conspiracy for having a contrary point of view of to that of their own.0 -
Martin_Discredited wrote: »Speculate away. I am just someone who had money with KE who is annoyed about the advice I was given.
No, you are just a Biff, Registered under numerous identities of that I am sure, out to cause trouble. This just goes to prove that Care in the community is not workingLiquidity is when you look at your investment portfolio and **** your pants0 -
GeorgeHowell wrote: »I think the arguments have already been levied if you had taken the trouble to read them yesterday, or prior. Basically everyone has to use their own common sense and judgment in deciding what to do with their money. After Northern Rock there was plenty of reason to be cautious and plenty of information around that foreign based banks, and Iceland in particular, could be dodgy. If people were not aware of that, or chose to ignore it, or thought that one solitary website could be taken as gospel about all such matters and that they didn't have to use any savvy, or to take any responsibility for their own actions, then yes I'm afraid idiotic is the word that springs to mind.
You disprove your own point! If it was an idiotic thing to do then why was there advice on this website telling people that it was the best place for their money??
You have implicitly just called Martin an Idiot! So you agree with me - good :T :j0 -
RealityCheck wrote: »Everyone is entitled to their opinion, not just you.
There is no need for you, aswell as others, to look down their nose at people or assume some kind of commercial conspiracy for having a contrary point of view of to that of their own.
Yet another 'new' member with 4 posts undermining MSE. What part of grow up, do you not understand.Liquidity is when you look at your investment portfolio and **** your pants0 -
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RealityCheck wrote: »You really know how to welcome new members to the MSE community.
What a nice individual you are.
I am actually. But you ' an apparent new member' land out of the blue and immediately undermine MSE, give us a break, not all of us have just landed in a Kayak from IcelandLiquidity is when you look at your investment portfolio and **** your pants0 -
RealityCheck wrote: »Everyone is entitled to their opinion, not just you.
There is no need for you, aswell as others, to look down their nose at people or assume some kind of commercial conspiracy for having a contrary point of view of to that of their own.
Its actually only about ten "posters" though being agressive to those who diagree with official policy.
Most people would agree
1. Martin is not to blame for Icesave collapsing
2. It has proved a ridiculous boast to have been going on television proclaiming himself to be a "financial guru"
3. He never made people invest there
4. His so-called "large WARNING" (his description) is actually a luke-warm reassurance statement.
5. He is not the only person who has dropped a bollock on this one .. even Local Authorities (who will employ real experts) did the same .. it is unprecedented territory in modern times
6. He would have done better just put his hands up and say he was caught sleeping at the wheel. So were a lot of people.
7. His speedy retraction from "financial guru" claiming to "I was only listing interest rates" doesnt sit well with the facts.
8. He runs a site that has helped lots of people get discounts, vash back deals and 2 for 1 offers.
9. He has not been malicious and obviously he stands to lose a lot and gain nothing by events. Its not like he had some cunning plan.
10. The name of the site has come back to haunt him .. I think thats where Jon Snow was coming from .. this moneysavingEXPERT tag.0 -
I couldn't believe it when i saw it, talk about being set up!
It reminded me of the Simpsons "Gummi-Bear"episode where Homer, after being accused of sexual harrasment, was invited onto a current affairs show to put his side of the story.
When it aired, the producers has cut & spliced Homer's replies to totally change what was said.
I was half expecting to see the clock on the wall jumping back & forth in time, so blatant a stitch-up this was.
Obviously all these Councils, Police pension groups etc must forgone using IFAs & invested their monies based on Martin's advice!
He was forever banging on about the £35K limit, so it wasn't as though this was unexpected.
I for one, will still read his website, but whether I take his advice is up to me in the end.
:money:0
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