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  • FIRST POST
    31May2008
    Icesave/Kaupthing - is Martin to blame?
    • #1
    • 7th Oct 08, 1:26 PM
    Icesave/Kaupthing - is Martin to blame? 7th Oct 08 at 1:26 PM
    This is an excellent site with many helpful ideas but it has really come a cropper after recommending the deposit of savings in Iceland banks kaupthing and icesave.

    From martin's blog back in April after newspaper articles raised concerns about icesave:

    "Therefore, where Icesave is a best buy, it remains a best buy. If I were to arbitrarily pick accounts not to include, then articles wouldn’t be accurate, where do you draw the line? This site is about listing highest interest rates to save people money… to get in the ‘picking the dodgy bank’ game - is an impossible task."

    If you can't pick out the 'dodgy bank' even after the mainstream press are onto it then you're no money saving 'expert'.

    How many people had even heard of kaupthing or icesave before seeking advice here on moneysavingexpert.com ?

    It's no consolation to tell people who can't withdraw their cash today that their money is 'safe'.

    People on this forum have been badly advised.

    Sorry to be ungrateful and the one to point it out - I reclaimed a couple of thousand from the banks thanks to this site.
Page 1
  • opinions4u
    • #2
    • 7th Oct 08, 1:27 PM
    • #2
    • 7th Oct 08, 1:27 PM
    He always said to remain under the £35k.
  • Griffboy
    • #3
    • 7th Oct 08, 1:28 PM
    • #3
    • 7th Oct 08, 1:28 PM
    I followed the news and didn't listen to most on here calling me names and drew my money out. People have to follow their own instincts.
    • nzseries1
    • By nzseries1 7th Oct 08, 1:29 PM
    • 2,144 Posts
    • 1,851 Thanks
    nzseries1
    • #4
    • 7th Oct 08, 1:29 PM
    • #4
    • 7th Oct 08, 1:29 PM
    All the wonderful advice Martin has given over the years, and then one thing goes wrong... and Martin's the devil!!!

    I love the thread title:
    Icesave/Kaupthing - is Martin to blame?
    Yes, Martin's to blame for Icesave. Well said.

    And nothing's happened with Kaupthing. What in particular are you referring to with Kaupthing? My money's all there and I haven't heard of anything "happening" to Kaupthing.

    Like I said on another thread, show me the CCTV footage of where Martin held a gun to your head and forced you to take out the account. Until you do that, I'm sticking by Martin.
    You're spelling is effecting me so much. Im trying not to be phased by it but your all making me loose my mind on mass!! My head is loosing it's hair. I'm going to take myself off the electoral role like I should of done ages ago and move to the Caribean. I already brought my plane ticket, all be it a refundable 1.
  • benjdr
    • #5
    • 7th Oct 08, 1:29 PM
    • #5
    • 7th Oct 08, 1:29 PM
    You will note the disclaimer:

    This website is based on journalistic research. It does not constitute financial advice. Any information should be considered in regard to specific circumstances. All tips are followed at your own risk and should be followed up with your own research
    • Crabman
    • By Crabman 7th Oct 08, 1:31 PM
    • 9,734 Posts
    • 7,171 Thanks
    Crabman
    • #6
    • 7th Oct 08, 1:31 PM
    • #6
    • 7th Oct 08, 1:31 PM
    Martin's addressed this point here.
    I'm a Board Guide on the Savings & Investments, ISAs & Tax-free Savings, Public Transport & Cycling, Motoring and Parking Fines, Tickets & Parking Boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Board Guides are not moderators & don't read every post. If you spot a contentious or illegal post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Views are mine and not the official line of MoneySavingExpert.com

    • Fella
    • By Fella 7th Oct 08, 1:32 PM
    • 7,615 Posts
    • 8,951 Thanks
    Fella
    • #7
    • 7th Oct 08, 1:32 PM
    • #7
    • 7th Oct 08, 1:32 PM
    don't be silly, of course he's not to blame.
    • Eager Saver
    • By Eager Saver 7th Oct 08, 1:32 PM
    • 73 Posts
    • 34 Thanks
    Eager Saver
    • #8
    • 7th Oct 08, 1:32 PM
    • #8
    • 7th Oct 08, 1:32 PM
    Sure he is, but why stop at the Icelandic Banks ... Martin, I say that you are also responsible for the collapse of the US sub-prime market!

    Come on, get a grip, reviews on this site have always been objective and Martin has always recommended further research before signing up for ANY financial product.
  • ventureuk
    • #9
    • 7th Oct 08, 1:35 PM
    • #9
    • 7th Oct 08, 1:35 PM
    This is an excellent site with many helpful ideas but it has really come a cropper after recommending the deposit of savings in Iceland banks kaupthing and icesave.

    From martin's blog back in April after newspaper articles raised concerns about icesave:

    "Therefore, where Icesave is a best buy, it remains a best buy. If I were to arbitrarily pick accounts not to include, then articles wouldn’t be accurate, where do you draw the line? This site is about listing highest interest rates to save people money… to get in the ‘picking the dodgy bank’ game - is an impossible task."

    If you can't pick out the 'dodgy bank' even after the mainstream press are onto it then you're no money saving 'expert'.

    How many people had even heard of kaupthing or icesave before seeking advice here on moneysavingexpert.com ?

    It's no consolation to tell people who can't withdraw their cash today that their money is 'safe'.

    People on this forum have been badly advised.

    Sorry to be ungrateful and the one to point it out - I reclaimed a couple of thousand from the banks thanks to this site.
    Originally posted by 31May2008
    You are a lunatic, Martin Lewis is to blame as much as the man who sells me my morning paper, my milkman, dustman and landlord. All have a tiny influence over my life but I am able to form my own opinion when deciding if I want The Telegraph, full fat, to recycle or a pint of Black Sheep.
  • South Bound
    The MSEs have made millions of us more aware of what savings opportunities there are available to us, including the risks associated with them. That we chose to invest after being exposed to that info is our own issue.

    Is it my Mum's fault that I bought a house? Safest place is bricks and mortar??

    I understand that people are frustrated, but blaming people is a little silly.
    • randomnut
    • By randomnut 7th Oct 08, 1:36 PM
    • 135 Posts
    • 79 Thanks
    randomnut
    Ha, yeah Martins to blame for the *GLOBAL* economic downturn affecting *all* banks. The FSCS has recently said its gearing up to step in and help with compensation, so just chill out and grow up.

    Ha, blaming this site, whatever next...
    • Tom_Jones
    • By Tom_Jones 7th Oct 08, 1:36 PM
    • 1,494 Posts
    • 2,340 Thanks
    Tom_Jones
    Yep let's hang him and then Lara will be mine

    Seriously though, even though Martin gave advice it's ultimately YOUR decision weather to invest or not.
  • Captain Mainwaring
    Good God. Martin this and Martin that. OK, the guy knows exactly how to wheedly money back (I've never won here because I don't f**k over my credit card company or have bank charges).

    The downside is that "normal" worthy account holders will pay the price for all of these reclaiming tactics.

    Would I listen to him on choice of bank accounts? Absolutely not, I'd rather listen to that berk with the bow-tie, Erqhart-Stewart or some such thing.

    If you put Mr Lewis on a podium, feel free to knock him off, but I personally did not, and whilst I enjoy reading the opinions here and generally upsetting people, I don't feel obliged to start licking his boots.
  • ventureuk
    Yep let's hang him and then Lara will be mine

    Seriously though, even though Martin gave advice it's ultimately YOUR decision weather to invest or not.
    Originally posted by Tom_Jones
    Only invest in the 'weather' for a rainy day
  • Stavros
    People on this forum have been badly advised.
    Originally posted by 31May2008
    Did you know that he's also responsible for the following:-
    1) Failing to find weapons of Mass destruction in Iraq
    2)The great recession in the 30's
    3) Demoting Lewis Hamilton from 1st to 3rd in a recent F1 race
    4) Throwing an egg at John Prescott
    5) Causing the san Andreas fault in California

    They might be ridiculous, but you started it
    Liquidity is when you look at your investment portfolio and **** your pants
    • nzseries1
    • By nzseries1 7th Oct 08, 1:49 PM
    • 2,144 Posts
    • 1,851 Thanks
    nzseries1
    Did you know that he's also responsible for the following:-
    [...]4) Throwing an egg at John Prescott[...]
    Originally posted by Stavros
    If that's true, I applaud him even more than I did before!
    You're spelling is effecting me so much. Im trying not to be phased by it but your all making me loose my mind on mass!! My head is loosing it's hair. I'm going to take myself off the electoral role like I should of done ages ago and move to the Caribean. I already brought my plane ticket, all be it a refundable 1.
  • opinions4u
    I assume all the price comparison sites that said "this is a good rate why not have it" are to blame too?

    Ridiculous post.
  • Ximian
    I lost my internet connection for a minute last night .... Martin is to blame.

    No one on this site is to blame, suggestions and advice are provided and it's up to the individual to either follow that advice or not, no one held any guns to anyone's head and forced decisions. No one knew that we would be in the exact financial situation we're currently in at the moment. A few months ago some "experts" were predicting that the UK would suffer a "mild depression".

    Keep in mind that MSE isn't the one and only site that provides financial advice on best buys and other financial related advice. I've seen other websites that have had Icesave and ING (in the past) as best savings accounts. After doing my own research I too saved money with Icesave and still have money in Icesave, I'm not happy about the current state of Iceland and Icesave but I know that it was my own decision to save in that bank and I'm certainly going to blame Martin.
    • altocumulus
    • By altocumulus 7th Oct 08, 1:52 PM
    • 567 Posts
    • 305 Thanks
    altocumulus
    I blame Martin for my not winning anything on the football pools...

    Oh - hang on - I don't do them....

    btw, interest rates on Premium Bonds have decreased today ...
  • holloholloway
    This is an excellent site with many helpful ideas but it has really come a cropper after recommending the deposit of savings in Iceland banks kaupthing and icesave.

    From martin's blog back in April after newspaper articles raised concerns about icesave:

    "Therefore, where Icesave is a best buy, it remains a best buy. If I were to arbitrarily pick accounts not to include, then articles wouldn’t be accurate, where do you draw the line? This site is about listing highest interest rates to save people money… to get in the ‘picking the dodgy bank’ game - is an impossible task."

    If you can't pick out the 'dodgy bank' even after the mainstream press are onto it then you're no money saving 'expert'.

    How many people had even heard of kaupthing or icesave before seeking advice here on moneysavingexpert.com ?

    It's no consolation to tell people who can't withdraw their cash today that their money is 'safe'.

    People on this forum have been badly advised.

    Sorry to be ungrateful and the one to point it out - I reclaimed a couple of thousand from the banks thanks to this site.
    Originally posted by 31May2008
    I think a lot of people on this site blame martin for losing their money from icesave. The guy has recommended icesave for months and it regularly featured in the best savings feature. I trusted martin's advice and now i have lost a great deal of money. Thanks a lot mate.
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