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DPChallenge Forums >> General Discussion >> Iceland bankrupt!
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Showing posts 26 - 26 of 26, (reverse)
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 04/05/2009 04:24:07 PM · #26
Mikeee:
"Asima, I am surprised that Terror laws were used, but when the Icelandic Finance Minister declared that the Depositor Protection Scheme would not be honoured and British institutions and individuals had substantial sums of money at risk, I guess the British Govt had to do whatever it could to protect its citizens. I don't understand how I was greedy investing in an Icelandic bank. My understanding was that I entered into a protected arrangement with a bank; they would pay me interest on my deposit and I could have it back when I wanted. I believe it was greedy Icelandic banks which ran out of money which caused the Icelandic economy to go into meltdown.

So I'll rephrase my initial sentiment. Icelandic Banks were inept and incompetent to the point of bringing your economy to its knees. FACT. The Icelandic Govt lied to other nations by saying deposits were protected and then saying the opposite. FACT. The Icelandic banking regulatory system was seriously flawed in that it did not spot the problem in the banking sector; its main task. FACT. The IceSave website went off-line in the UK to stop UK depositors withdrawing money while it was still open for Icelanders to remove deposits (from the parent company). FACT.

I do feel sorry for ANY individuals who lost money as a result of the crash, regardless of whether they're Icelandic or not. Had the British Govt reneged on its assurance that my money was safe I'd be equally outraged. So again, I apologise if I have offended any individuals, but my criticism of the banks, regulators and politicians remains and is totally justified. [/quote]"

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Ok, so you meant our governmernt are bunch of lying idiots? No you referred to the Icelandic nation in whole in your post.
Icesafe. Nice word. First time i heard it was 6 months ago when i realised that it was a word for Privat bank accounts in foreign countries, accounts that me and my children was responsible for paying if things went wrong.
I believe they offered like 1% more interests than your national banks.

Sorry for your loss but why on earth does anyone put their savings in foreign banks with such a little credibility as the Iceladic banks had since 2007? Didn´t you google?

Ps. I suck at quoting :=)

Message edited by author 2009-04-05 16:45:16.
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