What is the matter with some people here!

nilrem_2

TBH I am quite shocked at the attitude of some people who post here and the comments they make towards those of us unfortunate enough to be suffering the results of the Icesave collapse.

We have seen Icesave savers referred to as stupid and greedy not to mention other unkind comments, just what is the matter with people who post here? One would think that they would have just a little compassion and care for their fellow moneysavers many of whom have been really upset and concerned by the Icesave crash yet know we have to endure further insults being called idiots and such like, The real villans in this who they should be directing their anger to are the bosses of Icesave and the Icelandic government.

This site is called moneysaving.com and as such gives advice on allsorts of issues such as best inerest rates and how to get the cheapest petrol and many other money saving advice, why is it that people who come here to save money on on all sorts of things are not critised and called greedy yet those of us who wanted decent interest on our savings are!

I really am surprised at some of the attitudes here, one would have thought that we are all interested in saving money and that there would be come comradely shown here to fellow money savers who are being denied access to their cash rather than the sneering that we have seen from quite a few people.:mad:

Sunny_Saver

nilrem wrote: »

The real villans in this who they should be directing their anger to are the bosses of Icesave and the Icelandic government.

I agree with your post... but would like to add the British government and the FSA aren't blamefree either!

Oblivion

I do agree with the general message contained in your OP nilrem, and it is certainly not nice to be sneering at anyone who has done their best to maximise returns on their savings. I too had significant sums deposited with Icesave and Kaupthing Edge, so I'm in no position to criticise anyone who put there money in either.

What I do find puzzling, however, is that so many people, having put their hard-earned money into these accounts, then decided to ignore all the evidence in the news that the Iceland economy was becoming effectively bankrupt, and also ignored, or even sneered at, posters who warned of the impending failure of this regime.

I took heed and got my money out a week before the crash. I'm not crowing or saying that I'm more clever than anyone else ... simply that I decided that the weight of opinion signalled a doomsday scenario.

I'm just left utterly bemused that others didn't take heed and get their money out in time.

Dave.

Northtim

I don't see why people should be so bemused that savers had left money below the £35,000 (as it was) "protected" level in Icesave. It was indicated only that the Icelandic saving guarantee may be slightly more hassle than the UK scheme if we had to deal with it, not that it could not be relied on at all.

And Dave, you were slightly ahead of the game, but by the weekend and monday a good proportion of savers were trying to take the same action and withdraw all their savings, which led to the failure of Icesave and then the run on KE as well.

A lot of folk seem very wise after the event, but even just over a week ago the general advice was Icelandic banks may be a bit risky but the guarantee would see you right if you did not stash over £35k/£50k in there.

Lesson learned for a lot of savers, many of whom are already missing the money tied up in Icesave accounts for the time being. Really not needing another kick from "I know best" moneysavers.

unhealthyman

That almost means by definition, that the majority of people who didn't get their money out are less financially savvy and as such don't really deserve being ridiculed and bullied on a forum supposedly helping people with their money issues.

A bank collapsing is fairly unprecedented and a country collapsing even more so, and it was not patently obvious that Iceland would not honour their part of the guarantee.

That said, I am surprised that people left more than £50,000 in it.

nilrem_2

Oblivion wrote: »

I'm just left utterly bemused that others didn't take heed and get their money out in time.

Dave.

Maybe because they had their cash in Fixed rate bonds with no chance of withdrawal?

nilrem_2

unhealthyman wrote: »

That said, I am surprised that people left more than £50,000 in it.

When they put it in no one ever suggested that we should only stick to the 35k by the time they did many were tied for a full 12 months or more!

lindabloo

nilrem wrote: »

Maybe because they had their cash in Fixed rate bonds with no chance of withdrawal?

Exactly, I had my money tied up in a 6 month fixed rate bond and was unable to withdraw it.

The_Dangerman

nilrem wrote: »

When they put it in no one ever suggested that we should only stick to the 35k by the time they did many were tied for a full 12 months or more!

I agree with your first post, but not with this. Northern Rock was a shot across the bows and that was over a year ago. Ever since then those who left more than £35k in any account, let alone a Passport FSCS scheme one, were playing with fire.

agsnu

Oblivion wrote: »

I'm just left utterly bemused that others didn't take heed and get their money out in time.

Do you think Landsbanki could have survived a run on Icesave a week earlier if everybody who attempted to withdraw over the weekend of 4th-5th had instead attempted to withdraw over the 27th-28th September? It probably would have just fallen over faster.

Oblivion

nilrem wrote: »

Maybe because they had their cash in Fixed rate bonds with no chance of withdrawal?

I think it's fairly obvious that my comments referred to those who did have a non-contractual access to their savings.

Dave.