ICE SAVE - 2nd E Mail Received

NonGeographicalMan

bjorn_again wrote: »

Come on NGM, give us a break and stop sounding so pompous. We all have a different take on the Icesave issue. There is'nt a right or a wrong point of view, but at lease accept that there exists a different one to your own.

bjorn,

I totally accept that more than one point of view on this issue is permissible and I have never been upset by any of your very fair or well argued posts.

It is the fact that the tuggy's and Chameleon's of this world maintain I am not entitled to my point of view that has actually caused all the arguments in this thread. They and their henchmen are the ones that are using the condemnatory language towards myself

But then White Van Man rarely has the capacity for understanding or comprehending the reasons for the existence of an alternate point of view and usually prefers to rely more on his braun and his tendency to hunt in packs with other fellow white van drivers.

NonGeographicalMan

Paul_Varjak wrote: »

I think the British Government have to be commended for picking up the tabs when the Iceland Government let us down. I am very grateful too.

I think the point is the government had to do it because if they hadn't there would have then been a run on every other foreign bank that was taking deposits through a UK based subsidiary and especially on any of them using the Passport system, as I see a Cypriot bank still offering one of the highest rates of interest still does. I wouldn't give much for the chances of that Cypriot bank for instance not also having had a run and having gone under if the government had not agreed to compensate all depositors in the UK branch of Icesave (note that so far Guernsey Icesave depositors have unfortunately lost all their money).

Paul_Varjak

NonGeographicalMan wrote: »

note that so far Guernsey Icesave depositors have unfortunately lost all their money).

Exactly why you should feel grateful to the British Government!

NonGeographicalMan

Paul_Varjak wrote: »

Exactly why you should feel grateful to the British Government!

Not really when bailing out Royal Bank of Scotland customers cost the taxpayer £20 billion and they didn't lose access to their money for several weeks or the stress of possibly losing it altogether and they didn't lose any interest. Need I also mention Northern Rock and Bradford and Bingley.

And as I say if the government hadn't saved Icesave then half the other small foreign banks taking UK deposits might have also had a run and collapsed. So the government had to do it. That is why of course they didn't save Equitable Life as pension fund customers are locked in and there as no prospect of investors in other pension funds rushing to withdraw their money as a result.

Only people who had more than £35,000 with Icesave need to feel grateful to the government for first unexpectedly upping the limit of the scheme to £50,000 on the day of the collapse and then covering anyone with Icesave deposits (even those with £1 million) even though they didn't have to and those with this amount of money in Icesave should have known they were taking a chance.

Paul_Varjak

You seem to be arguing on both sides! Both as a recepient of compensation and as a taxpayer for having to pay for it!

I agree there was short-term stress for ICESAVE customers - but that was hardly the fault of the British Government, was it? In fact, the British Goverment could hardly have acted any quicker in guaranteeing those deposits. And the payouts from ICESAVE are pretty quick as far as I am concerned and ISA customers can retain their ISA status too.

NonGeographicalMan

Paul_Varjak wrote: »

You seem to be arguing on both sides! Both as a recepient of compensation and as a taxpayer for having to pay for it.

Well but of course I would as both a taxpayer and as a recipient of precisely the same FSCS compensation that any UK citizen in a UK based deposit taker should be entitled to if their deposit taker fails and they do not have more than £50,000 deposited with it. And there would be a lot more UK citizens receiving that same compensation from the FSCS if the government had not spent further billions bailing out several other major UK banks. And the total cost of that support is costing taxpayers a great deal more than compensating depositors in Icesave UK is.

Paul_Varjak

Then I suggest you take that argument to the VENT forum and let this thread continue for its intended purpose.

NonGeographicalMan

Paul_Varjak wrote: »

Then I suggest you take that argument to the VENT forum and let this thread continue for its intended purpose.

Wasn't it you who started the off topic discussion about wanting to express your gratitude to the British government. You clearly should have started a new thread for that purpose.;):p

Pendle_Gazza

StarRover wrote: »

Well aren't you a regular little martyr?

No, just someone with a bit of common sense.

amistupid

NonGeographicalMan wrote: »

You seem to have forgotten to use the Thanks button though if you are not being sarcastic?

Sublime, absolutely sublime!