Stuff Iceland

[graham]

Has Whitelackington torched his local Iceland in retaliation yet?  :-\

 

[AndyF]

Blimey, you're rich: I'm a-guessin' you've got around ?200,000!

Can I be your fwend?


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To be not stoopid, a County Council with, say, ?15million in an Icelandic account should have split the funds into separate accounts to qualify for the investors' compensation scheme such that rather than holding 1 account they would hold 300 accounts. Surely, another method of achieving the same outcome (and saving a huge amount of bureaucratic buggeration and half a mile of shelf space for the statements and accompanying documentation) would be for the European Government(s) to guarantee 100% of depositors' funds.

Hehe no I haven't  got ?200,000 LOL if only

The mistake for councils was 3-fold, firstly investing abroad (with limited protection),
second, not taking out defaut insurance (maybe they did) but thridly and most dumb is not getting the money out when the  warnings sounded.

When BCCI went bust a few years ago, lots of councils lost money - did they learn nothing from that? Apparently not...

As for C&G who knows? There was a lady on TV had ?100k in Icesave in a bond, and she didnt cash it in for fear of loosing interest. I know nothing about C&G, but they are heavily into mortgages I think...    I doubt the UK govt would at present allow UK savers to loose any money, but who knows what the situation will be in 8 weeks...... Fingers crossed for you...

For the record, I have an account with Kaupthing Edge, which I chose over Icesave because it was UK registered. Seems the FSA marched in 2 hours before its parent went "pop" and stopped the money disappearing to Iceland...

The day before the web site assured us that they were "safe and secure", fully protected and no need for concern blah blah. "4 hours later they were gone. You can't beleive or trust ANYTHING these lying b$stards say