Kaupthing - too good to be true?

Dan29

Meltdown wrote: »

Ah, I see ... the simple search works across all forums, not just the one you run it from.

Yes it's a poorly implemented facility IMHO, and useless for 3-letter words (e.g. "tax", "ISA" etc).

I actually prefer to use Google, setting it to just search MSE.

earlgrey_3

shays_mum wrote: »

This was the only thread that i got when i searched for kaupthing!, how was the op to know to look for iceland?!!, by the way op welcome to mse....if our regular posters are bored with answering the same questions over & over simple answer DON'T!!!

Completely right.

Most questions are asked again and again, without them boards like these would be very, very quiet. Witness those who asked the same questions over and over about cash ISAs recently. I can't remember objections to those being repeated and most were politely answered.

What seems to be happening here is a paranoia with some people apparently quite convinced that anyone asking about the problems of Icelandic banks are fifth columnists from the hedge funds or some other demons. :rolleyes:

So can we just relax a little. This has been a huge issue in the media so not surprising that there should be questions and it's ridiculous to assume that anyone raising the subject must have an ulterior motive.

The more some people desperately try to shut down debate about the Icelandic banks the more suspicion there'll be. If the situation causes some such stress that that they are incapable of ignoring posts then it could be simpler to put their money where they aren't caused such stress rather attack every new poster who mentions the unmentionable subject.

C'mon guys, just take a chill pill and do as shaysmum suggests, if you're bored with answering you have our full permission not to answer. Easy-peasy, give it a try.

runciblespoon

Lenfo wrote: »

The account I'm looking at is this: http://www.kaupthingsingers.co.im/Pages/1809 Platinum Offshore (the key word!) or http://www.kaupthingsingers.co.im/accounts/notice-accounts/platinum-offshore-notice which seems to have a weird rates structure. ie:

180 days 6.4000%
90 days 6.8200%
60 days 6.6500%
32 days 6.7200%

Why is the higher rate not consistent with the longer notice? Who in their right mind would choose the 60 or 180 day account?

I don't know, but I wonder if that's due to variations in LIBOR. Sterling LIBOR from 15/4/08:

Overnight 5.0975%
1 month 5.5262%
3 month 5.9300%
6 month 5.8968%
12 month 5.8050%

That roughly corresponds with the spread of rates above. You might choose the 180 day account if you didn't want to risk the rate going down when you came to reinvest after 90 days. Though there's a much smaller difference between 3 and 6 month LIBOR.

By the way, Kaupthing's accounts are on the Isle of Man who have a 75% of first £20K protection scheme. So you're more at risk than UK residents.