Lest we forget.

amistupid

...................October 2008



To all surviving Icesavers I bid you anniversary greetings and hope you are happier, wealthier and wiser than two years ago.

Greatgimp

I can't get any more in, it's full.

Ximian

I believe I'm wiser, wealthier no, I want the 6.10% I was getting in the cash ISA

stormy_2

Great thread amistupid, brings back memories.

I raise a glass to all of you who went through this......cheers fellow Icesavers. :beer:

They were scary days back then when Icesave went under along with Kaupthing Edge, I couldn't believe it as banks going bust were unheard of at the time.
I remember keeping up with the developing story via this great site (thank you Martin Lewis) and the superb postings at the time, then on the Wednesday during Prime Ministers Question Time the then Chancellor Alistair Darling said that all the savings would be guaranteed...........what a relief !!!
After all we were only putting money into a savings account so never expected any risk.

Thankfully it all came good and our savings were returned to us over time.

I'm a little older but a whole lot wiser and deal only with Banks covered by the U.K. Savings Guarantee now.

I think it was Warren Buffet who said the first rule of making money is to not lose money, the second rule is to re read the first rule ha ha

spike87

Brings back memories! Can't believe 2 years has passed already. Was quite a scary time. I had around 50% of my savings in an IceSave account. The week before I read some really bad information about the company and decided I was taking it all out. The day I went on to do the transaction was the day they announced they were bankrupt.

Big thanks to the Government and FSA for sorting it all out!

oldagetraveller

Yes, a scary moment at the time! 2 years, how time flies. I had £35k there in fixed rate, isa and instant access savings. What a relief when Darling Alistair announced that we'd all be compensated. At least he and McBroon were good for something.
Wiser? I don't know, I have some (not a large amount) savings with ING covered by the Dutch scheme. Do I trust the Dutch more than an Icelandic bank in the unlikely event of a failure? Probably. After all they did, or were arm twisted into taking over my Kaupthing savings too. I've just had the "mug" tattoo removed from my forehead.
A vote of thanks to the FSCS for an efficient and timely payout too.

Primrose

Well, I am certainly wiser. How quickly time passes ! But if I knew then how efficiently the compensation scheme would work, I would have put as much of my savings as I could have afforded into the longest, highest interest paying bonds Icesave were offering. When I look at the dismal interest rates we're all earning now and likely to be earning well into the future, I don't think we'll see those kind of rates again. And actually, as an online operation, I thought they operated very efficiently. But I'm not sure my heart could live through any more scary incidents like that.

oldagetraveller

And lets not forget how clever some of the the self professed "experts" on MSE were AFTER the event.:cool:

amistupid

Actually some did really well out of it, I had just put a wad in with Kaput thing at a one year fixed rate at 7.05% which ING honoured, some had three year fixed rates which are still ongoing at those rates. We were all very lucky though.

Sweaty days.

We all stuck together on here it waiting for the second emails saying we'd been paid. :eek:

nilrems camp for the disappointed to seek solace!

Poor Nilrem was almost the last to get his dosh back.

amistupid wrote: »

An ode to nilrem

I really don't know what to do
I haven't had a number two
It makes me mad, it makes me cross
Last on the list and I'm the boss
The F S C S I dislike
I'll go and see them on me bike.
I'll pedal fast although I'm old
Just like Chris Hoyle I'll get me gold!

amistupid

I still smile at the unjust stick we gave the FSCS

amistupid wrote: »

An ode to Ms Minghella

In charge of the job was Loretta
As slow as a clapped out Lambretta
For too long of a spell
She made our lives hell
I don't think I'll ever forgetta!

amistupid wrote: »

The boss Minghella Loretta
Should really be doing much betta
Three weeks for God's sake
How long will it take
To send our electronic letta?

Primrose

Actually I did write to the FSCS and say 'thank you' for running such an efficient operation. It was the first (and hopefully last one they will have to do) and I think when organisations do an efficient job, they deserve some thanks. I bet a lot of the staff there actually had to work pretty hard to get it sorted, not having ever had a rescue job to do before.