Did Iceland Run a Giant Ponzi Scheme to Scam British Savers?

Nukumai

noh wrote: »

A cynic may also question the opinions expressed in the CEPR report concerning the UK Treasury as one of the authors, Anne Sibert, is a member of the Monetary Policy Committee of the Central Bank of Iceland.

Edit:
Disregard that she wasnt appointed to that position until March 2009.
I guess the opinions expressed may have helped her future job prospects in Iceland.
http://eng.forsaetisraduneyti.is/news-and-articles/nr/3464

Don't sweat it. Though I'm well aware that Sibert is an acknowledged expert in Central Banking, I had no idea that the Icelanders had appointed her to their MPC. Had I been aware, then I would either have disclosed that fact or found a different source. I used her report because I had an analyst do a report for me on Iceland early last year, and Sibert's report was one of the more interesting appendices.

And you will, of course, be absolutely correct that her views would not have harmed her prospects with the Icelanders - though (as I mentioned above) she is a global expert in her field, so such an appointment is no surprise.

Rollinghome

StevieJ wrote: »

Maybe they didn't understand their own scheme wouldn't surprise me.

Not sure where that's from; this site perhaps? I'd think the writer probably did understand the position but managed to explain it in a way that could easily have been misunderstood.

Underlines the importance of checking the facts at source rather than relying on journos with poor writing skills.


Edit: Ah, I see it's from Motley Fool. Doesn't surprise me. I gather most of their staff are barely paid above the minimum wage. Monkeys on peanuts.

Paul_Herring

Rollinghome wrote: »

Edit: Ah, I see it's from Motley Fool. Doesn't surprise me. I gather most of their staff are barely paid above the minimum wage. Monkeys on peanuts.

I'm seeing some irony here, I can't quite put my finger on it, but I'm sure there' some there.

Somewhere.

Unless there are some MF die-hards who would like to contradict the quoted statement...

baby_boomer

StevieJ wrote: »

But some of the anti Iceland posts were a moronic disgrace :eek:

I assume you aren't referring to me? [The search engine is there for your convenience.]

Nor the articles in the excellent Financial Mail on Sunday or the Telegraph which asked some searching questions.

But these just got shot down by "expert" MSE posters who in retrospect were employees of either the Icelandic government or the Icelandic banks and have now vanished into the northern ether from whence they came.

While Martin fell back on his business failsafe lines that "your £50K is safe" and "MSE can only highlight the best paying accounts because no-one can predict who might go under".

And who here would doubt that if the UK government had done what the Icelandic government has done to its citizens, it would have fallen to MSE to run the UK "can't pay, won't pay" campaign with the full support of this board. :rotfl::rotfl: :rotfl: and Martin at every available press conference.