Icesave news from the BBC

Tom_Jones

JohnnyJet wrote: »

I actually felt a bit sorry for the Icelandic prime minister the other day, he looked like a rabbit caught in the headlights. I would like to know how this mess can be sorted out without Iceland becoming bankrupt or being saddled with a large dept for the next 20 years.

No offence, but who cares about the Icelandic PM, that man and his government officials failed to regulate their banks, and in effect have STOLEN many people's and organizations money. He should be in a criminal court IMHO

JohnnyJet

Tom_Jones wrote: »

No offence, but who cares about the Icelandic PM, that man and his government officials failed to regulate their banks, and in effect have STOLEN many people's and organizations money. He should be in a criminal court IMHO

I completely agree with you, I have a large amount invested in Icesave and was shocked when he said that he wasn't going to honour the guarantee and that it was every country for themselves. Without the guarantee I would never have deposited my money there. I want my money back but I don't want to see a country go to the wall to achieve it.

moneywolf

ICELAND got to rich too quick.

The car dealers were making fortunes selling high end range rovers & porsche 4x4 cars.

The streets were flowing with gold.

But the problem was it was our hard earned not theirs.

One car dealer said he could not get enough deliveries of Range Rovers & BMW's. So i guess they won't be getting any more.

Why it all went wrong, I don't know.

But they have had plenty of cash & must still have it, so its only right they do not try to rob ours.

I am no labour voter, but at least the goverment had the nouse to freeze the assets until it gets sorted.

When we get our cash back, They can have their assets.

f_@_w_y

update from guardian

http://www.guardian.co.uk/business/feedarticle/7854472

ebyard

IMHO the BBC (and Sky) are one of the reasons that Icesave and Kaupthing Edge failed. The wall to wall 24hr "news" coverage, reporting hearsay and unconfirmed reports just panicked everyone.

The guy who broke the story about queues outside Northern Rock wrote about how he felt guilty - it was his story which the run on the bank and so brought it down (ok, it would have happened at some point anyway).

The media have a responsibility to stop the scaremongering and report the FACTS.

If SchNews 24 and Sky News were taken off air for a few weeks, we'd all be a little less jumpy!

nilrem_2

ebyard wrote: »

IMHO the BBC (and Sky) are one of the reasons that Icesave and Kaupthing Edge failed. The wall to wall 24hr "news" coverage, reporting hearsay and unconfirmed reports just panicked everyone.

The guy who broke the story about queues outside Northern Rock wrote about how he felt guilty - it was his story which the run on the bank and so brought it down (ok, it would have happened at some point anyway).

The media have a responsibility to stop the scaremongering and report the FACTS.

If SchNews 24 and Sky News were taken off air for a few weeks, we'd all be a little less jumpy!

TBF I think that Icesave was build on 'shady ground' and was not in a very strong position but there is no doubt that the Media made the issue a lot worse and caused the crash to happen a lot quicker!

NumbersGuy_2

If the assets of various banks can't be sold off to pay or don't cover the depositors, maybe the UK government will pay the depositors and and take interest paying bonds for the relevant amount from Iceland. Whilst it isn't in a position to pay much right now, it would nevertheless be a debt due for repayment at some point. The UK government only finished paying debts back to the USA a few years ago for military equipment they gave us in World War 2!

meanmachine_2

To be honest I'm a little sceptical.

Where, exactly, is this money going to come from?

I'd have preferred the talks to have broken down, the British to have stormed out and our government to have taken care of us pronto.

Then the lawyers could have got on with reclaiming monies owed by the Icelandic nation.

Meh. Hopefully I'm worrying about nothing. But after this torrid, horrid week, I just don't know what to think anymore.

Coolfonz

The Icelandic people should sort out the problem by freezing the assets of the people who got them - and us Icesaver mugs - into this mess. The island has a number of billionaires and their profits come from this obscene mess and it is they who should pay - as much as is possible.

it'smeinit

meanmachine wrote: »

To be honest I'm a little sceptical.

Where, exactly, is this money going to come from?

I'd have preferred the talks to have broken down, the British to have stormed out and our government to have taken care of us pronto.

Then the lawyers could have got on with reclaiming monies owed by the Icelandic nation.

Meh. Hopefully I'm worrying about nothing. But after this torrid, horrid week, I just don't know what to think anymore.

I couldn't agree more. I guess it's a case of trusting your own.