'To this end, the banks effectively been taken over by the government in order to safeguard domestic savers. UK customers of Icesave, however, are not covered by this guarantee - due to the fact that Kaupthing and Landsbanki are registered in different ways in the UK.'
'the remainder from our own FSA scheme'...could anyone care to explain to me why my tax money is being used to fund gormless people who have no understanding of finance and who greedily scurried to put their money in a foreign bank? They should be at the mercy of the Icelandic government and if they lose their money...tough!
Fortunately none of my 'pile' is with Icesave, as some time ago I arranged my cash deposits spread over six accounts (all but one British) with £30k in each, so I suppose I'm OK(??) - but I find your reference to people who had put their money into Icesave as 'gormless' just a tad gormless in itself. Until the sudden financial crisis hit I did not hear people like yourself (those with 20-20 hindsight!) warning of these matters. Or have I just not seen your treatise on Icelandic Banks, in the last couple of years? Easy to pontificate afterwards.