Skip to comments.
Customers face anxious wait over fate of Icesave accounts [Icelandic bank failure]
The Guardian, London, UK ^
| 2008-10-08
| # Patrick Collinson, Miles Brignall, & David Teather
Posted on 10/07/2008 6:00:23 PM PDT by rabscuttle385
The government was last night facing the very real prospect of the first British consumers losing substantial amounts of their savings following the collapse of the popular internet bank Icesave.
More than 300,000 British savers had accounts worth in total £4bn with the Icelandic bank, attracted by best-buy savings rates of more than 7%, on offer as recently as Monday.
But yesterday withdrawals were frozen after its parent group, Landsbanki, went into receivership. Savers desperate to withdraw their cash found they were unable to log on to the website, and, unlike savers with Northern Rock, now face losing any balances above the government's protection limit of £50,000. They can also expect a wait of at least three months before they are reunited with their cash.
(Excerpt) Read more at guardian.co.uk ...
TOPICS: Business/Economy; News/Current Events
KEYWORDS: bankfailure; bankinglist; financelist; iceland; icesave; moneylist
Ouch.
To: Brian S. Fitzgerald
Thanks for the link on another thread.
2
posted on
10/07/2008 6:00:51 PM PDT
by
rabscuttle385
(Baldwin/Castle 2008 - Gilmore for Senator from Virginia 2008)
To: PAR35; bamahead; AndyJackson; Thane_Banquo; nicksaunt; MadLibDisease; happygrl; Roy Tucker; GOPJ; ..
|
|
The Money, Banking, and Financial Markets Ping List. "Money, not morality, is the principle commerce of civilized nations."
—Thomas Jefferson FR Keywords: moneylist, bankinglist, financelist Please tag all relevant threads with the aforementioned keywords. This can be a very high-volume ping list at times. To join the ping list:
FReepmail rabscuttle385 with the subject line add moneylist.
(Stop getting pings by sending the subject line drop moneylist.)
Wall Street Warning: Bulls and bears make money; pigs get slaughtered. Per FR posting rules, please be civil and polite in your comings and goings. |
|
3
posted on
10/07/2008 6:01:26 PM PDT
by
rabscuttle385
(Baldwin/Castle 2008 - Gilmore for Senator from Virginia 2008)
To: rabscuttle385
Yeah, put all your money in a bank in Iceland....anything for 7%.
To: proxy_user
5
posted on
10/07/2008 6:13:45 PM PDT
by
muawiyah
To: proxy_user
An internet bank in Iceland.
6
posted on
10/07/2008 6:15:47 PM PDT
by
1rudeboy
To: rabscuttle385
7
posted on
10/07/2008 6:18:23 PM PDT
by
NonValueAdded
(don't worry, they only want to take water out of the other guy's side of the bucket.)
To: rabscuttle385
Breaking news ...
Britsh govt just announced a £50bn deal to part nationalise the UK banks, funded by UK tax payers.
This is the beginning ...expect an uproar when this breaks headlines tomorrow.
More later.
To: rabscuttle385
Several lessons can be taught from this.
1. Never rely on a foreign government.
2. Greed is sometimes punished.
3. America isn’t that bad after all.
9
posted on
10/08/2008 6:04:00 PM PDT
by
PAR35
To: NonValueAdded
"While the old saying 'A fool and his money are soon parted' is true enough. What's really amazing is that they ever got together in the first place." Lazarus Long
L
10
posted on
10/08/2008 6:07:41 PM PDT
by
Lurker
(She's not a lesbian, she doesn't whine, she doesn't hate her country, and she's not afraid of guns.)
Disclaimer:
Opinions posted on Free Republic are those of the individual
posters and do not necessarily represent the opinion of Free Republic or its
management. All materials posted herein are protected by copyright law and the
exemption for fair use of copyrighted works.
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson