Icesave - Martin Lewis Should Resign!

nico26 · 8 October 2008 at 9:22AM

Icesave was not the only one Martin recomended. Martin lists the rates,It is you that decides to put your money there.Nobody else.

You took a gamble and moved your savings I am sorry it did now work out. Why did you move the to there anyway?

boddy · 8 October 2008 at 9:25AM

Can I just say that people read the very bottom of the page. Martin makes it clear there that all tips are followed at your own risk and that tips do not constitute financial advise.

IT_nerd · 8 October 2008 at 9:25AM

With 35K to play with you should have talked to an IFA....
Only you are to blame.
I put £1750 into icesave, on Martins recomendation.
Do I regret it. Yes. Do I blame Martin? No. Everything pointed to icesave being good. All the papers. Everything. Not just this site.

Alison_B · 8 October 2008 at 9:34AM

I can totally understand that you are upset and frightened at the thought of losing your money. I believe that the Chancellor is talking about this in the HOC today, so hopefully you will have some good news later on.

I think it is very unfair of you to spout off like this. Martin Lewis advised people to put their money into this bank and although I have not been following the interest rates for it before, no doubt you have been enjoying much higher interest dividends than the british banks have been paying out or you would have kept your money in these banks. Have you been on here before praising Martin for giving you the information on getting such high interest payments? I very much doubt it. Now that the sh*t has hit the fans with these banks, you are upset and frightened and lashing out at someone you believe to have caused you this problem. I, like you are an adult and should take responsibility for your own actions. It was greed that got you to go to that bank in the first place wasn't it, the fact that you would get more interest. Unfortunately things like this do happen.

I hope that you do get your money back but there are far more worse off than you at the moment. I heard on GMTV this morning with Martin that a poor man had got £150,000 invested in that bank.

Eager_Saver · 8 October 2008 at 9:39AM

The FSA (http://www.moneymadeclear.fsa.gov.uk/) also recommended Icesave, should they resign too?

IT_nerd · 8 October 2008 at 9:41AM

Alison_B wrote: »

I hope that you do get your money back but there are far more worse off than you at the moment. I heard on GMTV this morning with Martin that a poor man had got £150,000 invested in that bank.

Did you see Martin on CH4 last night? He was sitting next to a retired financial adviser who was facing losing something like 100K if iceland didn't pay out. And he had some kind of cripling desease!

It was bloody terrible.

On one side Martin. A rich, successful, young and in fine health man, who had told people about icesave.
Then this crippled man with speech problems who could lose all his money because icesave was going under.

I wonder what side CH4 was on when they picked the guests :rolleyes:
Although I had little sympathy for him... If he was an ex FA he should have known better.

Vectra · 8 October 2008 at 9:46AM

There there Mr NGM no need to panic good old Mr Brown has just spoken and says he will look after all those with savings in Icesave I am myself very relieved at this,but I have remained calm throughout.

EagerLearner · 8 October 2008 at 9:49AM

Martin is NOT to blame for the decisions we have all made, after carefully researching our own options before we sign up to anything.
I have £22k in IceSave and it would never cross my mind it's his fault in any way that the Icelandic government are having problems or that their banks are possibly going to be insolvent.
For those blaming him, please take responsibility for your own actions and stop scapegoating.

itsnever2lateisit? · 8 October 2008 at 9:52AM

NonGeographicalMan wrote: »

Labour doesn't care about the affluent middle classes getting screwed (their stereotypical profile of those in Icesave as its "abroad"!) and only rushes to defend the jobs and savings of cloth cap wearing whippet walkers up north who can be relied on to vote Labour.

Like MG Rover? £200m would have saved 15000 jobs and the advanced Rover 50 would have been built here rather than as a Roewe 550 in China

Even our own FSCS could not cope with a collapse of the entire UK banking system, they are designed to deal with just one. Same for Iceland, no one could have forseen the collapse of their entire banking system which by value has liabilities 6 times the value of the country in which they reside.

It now seems the UK authorities will protect Icesave savers, and I hope that they go further and take the Icesave brand and UK operations into public ownership.

It has always been taken as read that the higher the rewards the higher the risk, which is why returns on shares have to exceed the rates offered to savers by banks.

If you want a scapegoat then look at the institutions looking after your pension who loaned shares to hedge funds, who in turn destroyed the value of shares. Now for my half crown I entrust the pension funds with my money to enhance its value not trash it, and it is their heads I want to see on spikes at Tyburn.

Martin Lewis is at the end of the day a financial journalist, in the same way that Clarkson is a motoring Journalist, and I wouldnt buy a car on that blokes say so

JohnnyW_3 · 8 October 2008 at 9:53AM

NonGeographicalMan wrote: »

I would just like to say I am only at risk of losing nearly £35k thanks to Martin Lewis who regularly tipped Icesave and other even more dodgy banks like ICICI in his newsletter so that he could earn more commission from click thrus and make himself rich.

The man is clearly a total charlatan who far from apologising is now trying to earn yet more click thru revenue by tipping new dodgy banks for us to invest in and lose all our money with.

He will probably ban me for these comments but if people don't show their anger and hurt then how can he ever understand what he has done.

Mr Lewis your credibility is now zero and you should resign in favour of someone who does not encourage people to risk losing all their money in dodgy foreign banks with alleged investors compensation schemes that do not pay out on the amount allegedly promised.:eek::eek::eek::mad::mad::mad:

90% of Icesave investors would not have their money in this bank and be at risk of losing most of their cash savings if it were not for Martin Lewis's repeated reckless promotion of this company and other Icelandic and similar dodgy overseas headquartered banks.

I have £30K in IceSave. It's my entire life savings. I am currently living off these savings and was planning to for the next year. But guess what? It's MY fault. I'm not a child and nether are you. Nobody forced you to jump for IceSave and there were PLENTY of disclaimers about IceSave on this site. If you didn't read them and decided to opt for the FREE advice on this site, then that's your issue.

Martin is NOT a financial advisor (and makes that clear). But if you HAD spoken to a professional financial advisor and they'd told you to invest in Bradford & Bingley, Northern Rock, Merryll Lynch, Lehmans, Goldman Sachs or yes, IceSave, then guess what... they wouldn't be "resigning" from their job any time soon! This is an INTERNATIONAL crisis. You and I are only one tiny part of a LOT of people feeling this problem.

Now, as it turns out, you HAVEN'T LOST A SINGLE PENNY, so that should at least cheer you up. Yes?

Icesave - Martin Lewis Should Resign!

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