Meltdown

milk monitor · Post by **milk monitor** » Mon Oct 06, 2008 5:02 pm

Another day of meltdown, pandemonium on the markets world wide.

Anybody concerned for their savings accounts?

aaamusements.co.uk · Post by **aaamusements.co.uk** » Mon Oct 06, 2008 5:15 pm

Not particularly, not yet anyway.

I am fine as long as the UK is not declared bankrupt.
Getting more likely though....

HorseRacingKing · Post by **HorseRacingKing** » Mon Oct 06, 2008 5:47 pm

Dreadful scenes

Post by **admin** » Mon Oct 06, 2008 8:35 pm

Ive got a few quid in icesave, Ive heard that iceland are now offering 100% compensation if it all goes wrong. Still a bit worried though, as I doubt the icelandic government have the cash to back that promise up if there entire system crashes.

Going to see about moving it tommorow.

JG · Post by JG » Mon Oct 06, 2008 9:41 pm

You're safe for £35,000 (government backed) in most accounts are you not?

Not sure about icesave, but all the big High Street names are safe, I think. So unless you've got crazy amounts of liquid cash and minimal accounts, you should be able to juggle it.

Post by **admin** » Mon Oct 06, 2008 9:52 pm

From tommorow your safe with £50k in any UK bank. If you had 200k spread amongst 4 banks you would be ok.

Its a little bit difference with icesave. Iceland guarentee the first 20,000 euros, with the UK making up any difference after that. I think the cash in my isa is probably safe where it is, but im looking to move it back to the UK just incase! Im going to pop into natwest tommorow and see if they can do a speedy transfer into their 7.32% account - better interest and a lot safer for me.

Post by **admin** » Tue Oct 07, 2008 2:22 pm

Looks like Ive been to slow. Icesave have closed there website, and stopped any payments... Going to have to go down the compensation route, I just hope it doesnt take too long :x

aaamusements.co.uk · Post by **aaamusements.co.uk** » Tue Oct 07, 2008 2:27 pm

admin wrote:Looks like Ive been to slow. Icesave have closed there website, and stopped any payments... Going to have to go down the compensation route, I just hope it doesnt take too long :x

It hasn't collapsed yet.

Hopefully just pre-emptive action against a run...

Pheature · Post by **Pheature** » Tue Oct 07, 2008 8:43 pm

admin wrote:Ive got a few quid in icesave, Ive heard that iceland are now offering 100% compensation if it all goes wrong. Still a bit worried though, as I doubt the icelandic government have the cash to back that promise up if there entire system crashes.

Going to see about moving it tommorow.

well iceland has went bankrupt... Im worried for sure! if shit go's broke we will be living and working for nothing, its a fuckin joke....

aaamusements.co.uk · Post by **aaamusements.co.uk** » Wed Oct 08, 2008 12:09 am

I did hear today that the bank behind Icesave was insolvent.

Scott · Post by **Scott** » Wed Oct 08, 2008 12:11 am

Are the halifax affected by any of this, i have an ISA with these but i have'nt seen them mentioned on the news.... so far.

aaamusements.co.uk · Post by **aaamusements.co.uk** » Wed Oct 08, 2008 12:18 am

Extreme Eddie wrote:Are the halifax affected by any of this, i have an ISA with these but i have'nt seen them mentioned on the news.... so far.

Short selling nearly killed HBOS:
http://news.bbc.co.uk/1/hi/business/7622180.stm

Still not certain yet though...

Post by **admin** » Wed Oct 08, 2008 10:48 pm

The icelandic government basically put two fingers up and said no chance for english savers.. Feeling a bit better now that the UK Government have stepped in and put in place a guarentee for icesave customers.

I dont think iceland have any cash at all to spare. On one hand im thinking they are tossers for abandoning their 20,000 euro promise, on the other im feeling a bit sorry for them as they obviously are in far too deep and are panicking on what to do next.

mr lugsy · Post by **mr lugsy** » Wed Oct 08, 2008 11:50 pm

not trying to funny or anything, but if iceland had'nt paid that kerry cantana bird all that wedge for stuffing her face full of frozen eclairs and skanky buffet fodder,the economy would be in a much more perky condition.

Mr McStreak · Post by **Mr McStreak** » Thu Oct 09, 2008 1:17 am

mr lugsy wrote:not trying to funny or anything, but if iceland had'nt paid that kerry cantana bird all that wedge for stuffing her face full of frozen eclairs and skanky buffet fodder,the economy would be in a much more perky condition.

Lol!

My advice to anyone worried about their loot is take it all out now, and put it in a Peak Freans biscuit tin under your bed.