Frozen savings

We’re still reeling a bit today from the fact that, as a result of the collapse of Landsbanki, we can’t currently access a large chunk of our savings held with icesave. More worrying is that, despite having intended to do so on numerous occasions, we just simply hadn’t got round to spreading our savings around to ensure that we were under the FSCS limit. Absolutely stupid in hindsight particularly given all the warnings but there we go. Anyway, nothing we can do about it now so we’ll just have to wait and see what happens. Looks like we might have to put our plan to upsize whilst the housing market is depressed on hold for a bit now…

4 Responses to “Frozen savings”

  1. Neil says:

    Dave,
    I guess you must have had a fairly sleepless night. But it looks like you
    along with all the other idiots are being rescued by the
    rest of us. I guess the least you can do is buy us a beer next Tuesday.

    What I really don’t understand is the situation with local councils. First of
    all why do they have millions of pounds to invest in Icelandic banks —
    and 2ndly is there any difference between raising council taxes and demanding
    that the government bail them out? Either way it is the tax-payer who pays.

    cheers,
    Neil

    • Dave says:

      Well a) the first £50k is coming from the FSCS i.e. the banks and not the rest of you, b) if by the rest of us you mean taxpayers then that includes me and c) calling me an idiot isn’t the way to get me to buy you a beer!

  2. Neil says:

    Dave,
    my apologies if I was over the top. It is hard to try and argue abstract economic
    principles when it is your mates that are in the firing line. It is great news that
    your saving are safe.

    cheers,
    Neil

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