What is the matter with some people here!

innovate

going2die_rich wrote: »

As it's bad enough we taxpayers have to support the lazy, now we are covering the costs of the stupid also.

What gives you the right to call people 'lazy' and 'stupid' - bet you have just about no facts at all about whether and how hard people worked to save money (from jobs in which they paid tax). You also have just about no facts how many people have their Icesave money in fixed term accounts and couldn't have withdrawn in time even if they had wanted to do so.

Don't know who you refer to as 'we' (in "we are now covering the cost") - did it occur to you that Icesavers have paid their fair share of taxes, even for money they had in Icesave?

I am sorry, but really cannot take people like going2die_rich very serious any longer because they are full of emotion, and contempt for others. I just hope that those self-rightuous folk never ever get put into a situation, of no fault of their own, where they need help from government/tax payer money.

MrExample

nilrem wrote: »

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:

I'd like to add that there has been quite a lot of nastiness directed at the Icelandic people in general. I know a lot of it is in jest, and coming from people worried/angry/upset about their savings and looking to vent their frustrations, but I've been a little shocked at the selfish attitude of some people around here.

Tom_Jones

Well I personally didn't hear many rumours that Icesave was about to go bust, except maybe the odd thread on here, which I thought was overeaction. I lay the blame firmly at the door of the Icelandic Government, who buried their heads in the sand as to the rapid growth of the banks in Iceland, and didn't ask will there be any problems in the future with such expansion. I still cannot believe the actions of the Icelandic Government in going back on the promise to cover all the savings, up to the Passport scheme limit, of investors in the UK, it's an absolute disgrace in my eyes.

confused_landlord

silvercar wrote: »

The fact is that IceSave savers have been protected to a higher degree than was ever promised.

.

It has already been revealed that the UK Government has seized more than enough Icelandic assets to pay back British savers caught up in the country's banking collapse.
Some £4bn is understood to have been frozen using anti-terror laws last week, compared to the estimated £3bn that UK councils, charities and hundreds of thousands of individuals could lose.
So, the Govt is not doing anything out of the ordinary.
Now if Farepak has sizeable assets it might have been a different story. If Northern Rock customers did not take on 100% mortgages on a self cert basis it might have been a different story. I dont see why someone with a decent deposit would find it hard to find another company. If they didnt want surprises they should have gone for a 10 year fixed rate mortgage.

MrExample

silvercar wrote: »

The fact is that IceSave savers have been protected to a higher degree than was ever promised.

There are farepak savers still waiting for their money.

There are people who took Northern Rock together mortgages unable to remortgage anywhere else, stuck on a supposedly standard variable rate that is much higher than other banks SVR.

There are people who contributed all their working lives to a pension only to find their company has gone bust taking their pension with it.

Now all people who have lost out deserve support and sympathy, IceSave savers have been supported by the government/ taxpayers and so really shouldn't be grumbling, yet they post on here about their loss of the high rate of interest they were promised that they may not get.

While I sympathise with all of the above people, and agree, they feel deserve their money as much as Icesavers, there is a fundamental difference between those examples and Icesave: Icesave was a bank.

Banks are a staple of our society, and are supposed to be absolutely safe. I don't suppose the FSCS was ever meant to be invoked, at least not on a major scale. Icesave was out of the control of the gov't, so it couldn't be saved.

Nick_C

nilrem wrote: »

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?

Stupid is unfair - foolish would be more appropriate.

People who are upset about the bail out are concerned that the Birtish Taxpayer will end up paying for it. If Darling really can recover enough from seizing Icelandic assets to pay for the compensation then fine, but there is a genuine concern that it won't work out that way. Time will tell.

THe problem with bailing out the foolish is, will they learn their lesson?

valderee

So now I am not only stupid and greedy, I am a fool as well.
Don't you think I feel bad enough without all this name-calling? Believe me, Beachy Head looked inviting at one point last week. As someone with a limited knowledge of investing money, I did what I thought was best at the time - in hindsight it was a big mistake - but we all know what is said about hindsight. I will be eternally grateful to get my savings back and I don't need to be made to feel worse than I do already.

cwcw

Oblivion wrote: »

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,

I skim the headlines on BBC News for nearly an hour a day and watch the news on TV most days, and can honestly say I heard nothing about the concerns over Iceland until last Monday night (which transpired to be too late). You have to realise that most people, especially after reading the first £35k is protected the same as with any other bank, will not start devoting their life to reading about all of the world's financial obscurities - they have lives to get on with to carry on earning the money they're saving.

Guesthouse

Well, I had my savings in IceSave.

I put them there a while back and checked on them occasionally. So in line with many ordinary people (I suspect) I've put my money in a bank and left it - admittedly not following the moneysavers advice to check/ditch/switch but there you go. When my fixed rate is due I check for another deal, when my ISA is due I check for deals. I haven't been involved in anything that carries the tagline "the value of your investment may go down as well as up" and unlike the Insurance fiasco (was it Lloyds?) a few years back where shareholders suddenly found themselves being asked to pay heavily out of their pocket for increased costs, nothing that suggested I would have to bail out my bank as far as I'm aware - excluding the debate about being a taxpayer.

I could have put it all in an RBS account or any number of high/medium or poor paying accounts from any international banking outfit and today I might still be looking nervously at my savings, as institutions that (in theory) have billions of £s in assests but don't trust each other enough to lend it between themselves ask for a bail out.

Stupid?...I'd say maybe....but who would have bet on RBS etc needing help. Hands up all you posters who are financial geniuses but have all day to sit at home. You could argue that the only people making money are carrying out by normal standards unacceptable and borderline criminal operations.

Lazy?.....I'd say maybe....but if I was able to spend all day boning up on the financial status of every institution, I would be more handsomely paid than I am.

When it became obvious the other week it was going sour I moved some money but I couldn't move my fixed rate or my ISA. Well I could but as my total investment is under £35k, I was reasonably confident I would get most, if not all, of it back somehow and I knew simply dumping the ISA would penalise me.

When (or maybe if??) I get my savings back I will be
a) grateful and consider myself a bit lucky.
b) satisfied that I am entitled to my savings under the various guarantees proferred by the FSCS etc.

amistupid

I think those with over £35,000 have been very, very fortunate to have had the rest guaranteed. They've played Russian roulette, shot themselves in the head, but still somehow managed to survive.

On a lighter note perhaps we are all idiots not seeing the dangers in Iceland.
Igloos are the first to be hit in a property market meltdown.