Codsave us all

[green_amber]

Who ARE all these people who banked with off shore Icelandic banks and more to the point, WHY? Are they all endangered fish?

Comments

[inamac.livejournal.com]

Aparently one of the organisations that banked with Iceland was Cats Protection. (Presumably they got a cod dividend.)

Not that itls actually a laughing matter...

[alexmc.livejournal.com]

People who saw that they were giving a better rate of interest?

Local councils?

[nmg.livejournal.com]

Indeed. One of my friends had money in Icesave, and he was by no means an incautious investor; he spread his money between a large number of institutions.

[stevegreen.livejournal.com]

It's not as if most of know who the true owners of our high street banks are these days, or which country they operate in.

[moral-vacuum.livejournal.com]

More to the point, who are all these people with SAVINGS?

[evil-mogwai.livejournal.com]

Yes, and why are we supposed to feel sorry for someone with £600k in one institution when there has been years of press saying don't put more that ~£30k in one institution.

/snark over...

[stevegreen.livejournal.com]

Somebody who's just sold a house and is finalising the purchase of a replacement? Someone who's just inherited money? Someone who's just sold their business and is about to retire? Lots of possibilities.

[evil-mogwai.livejournal.com]

all possible examples but the one I'm talking about is this woman:

dang... the articles gone.

Its a woman whos had around £600k just sitting in an account for years since her hubby died. Shes wimping and moaning that she is going to have to sell her house now and so on.

Thing is there has been so many warnings over recent years that I can't see why someone who has that kind of cash sitting around hasn't actually done something rather than sticking it all in one account and then wimping when it all falls apart.

/but yes, I can see some people may in the short term may exceed the limits.

[nmg.livejournal.com]

By the way, people have been flogged for puns less painful than the title of this post.

[moral-vacuum.livejournal.com]

I did a post about Iceland entitled "This piece of Cod which passeth understanding". Do I get flogged too?

[nmg.livejournal.com]

Flogging is too good for you.

[major-clanger.livejournal.com]

Thermonuclear obliteration is too good for that.

[gleisdreieck.livejournal.com]

Me!

Icesave had the best rate of interest last year for non-ISA savings!

[stevegreen.livejournal.com]

Icesave's ISA rate was quite good just before the crunch, too.

[clarehooper.livejournal.com]

Me too! I nabbed me an ISA with them, on account of the good interest rate. So much for that, eh?

[anef.livejournal.com]

If you were looking for somewhere to put some spare cash, the Icelandic banks were offering very good rates of interest, and easy access internet accounts. I thought of getting one myself, but didn't in the end, just because I had a vague feeling they hadn't been around for very long.