Reply to: Rumour mill churning overtime in the City ...

[Moscow Mule]

Yes that is a possibility. The govt can't bail out every bank if they fall like dominoes. Very unlikely though.

If a bank goes down, quite a few smaller ones will probably go too - Credit Default Swaps are often issued on banks as they are seen as "safe".

[oracleslave]

There is one, here: http://tinyurl.com/yskzg4 (it's safe for work)

Excellent AtW.

[sasguru]

Don't know how it would work in practice but even slimy slippery Gordon and Co would struggle to not pay up. I have read NickGesque scenarios where if a big bank or two went down then the government would be in tulip creek and that the scheme is woefully underfunded !?

Yes that is a possibility. The govt can't bail out every bank if they fall like dominoes. Very unlikely though.

[AtW]

Not sure that's the right icon ? Chuckle of the day !

There is one, here: http://tinyurl.com/yskzg4 (it's safe for work)

[rootsnall]

And should a bank go up... does anyone have any ideas on how long it takes to get your money back? Or if you get interest while you wait?

Expect a good 5-10 years without interest I would imagine.

Ouch

Don't know how it would work in practice but even slimy slippery Gordon and Co would struggle to not pay up. I have read NickGesque scenarios where if a big bank or two went down then the government would be in tulip creek and that the scheme is woefully underfunded !?

[sasguru]

Up to £35k should be safe. I am no financial expert though so if this is bulltulip then please explain...
http://www.icesave.co.uk/financial-protection.html

Not sure I would trust 6 figures anywhere at the mo. Split it up:
http://www.moneysavingexpert.com/sav...-savings#every

ferret, I don't know what policy is, but it may be wise to delete any references to any financial institution in this thread, including quotes. I mean adverse comments BTW

[themistry]

I'd scale back to the government guarantee level, 30K, maybe a bit more post NR. Theoretically it is then safe as houses

And should a bank go up... does anyone have any ideas on how long it takes to get your money back? Or if you get interest while you wait?

Expect a good 5-10 years without interest I would imagine.

Ouch

[ferret]

Up to £35k should be safe. I am no financial expert though so if this is bulltulip then please explain...
http://www.icesave.co.uk/financial-protection.html

Not sure I would trust 6 figures anywhere at the mo. Split it up:
http://www.moneysavingexpert.com/sav...-savings#every

[sasguru]

I'd scale back to the government guarantee level, 30K, maybe a bit more post NR. Theoretically it is then safe as houses

Good advice. Try to spread your capital around folks ...it ain't just Icelandic banks in trouble.

[rootsnall]

And contract me to build them * arent in big trouble are they ? Ive got 6 figure sum with them, I knew there were some worries a few months back but nothing to bad.

I'd scale back to the government guarantee level, 30K, maybe a bit more post NR. Theoretically it is then safe as houses

[themistry]

And contract me to build them ICESAVE arent in big trouble are they ? Ive got 6 figure sum with them, I knew there were some worries a few months back but nothing to bad.

Everything in iceland looks bad. Google them and kaupthingedge and make your own mind up

TM

[Bumfluff]

As long as the city firms invest wisely in their risk systems it will be fine...

And contract me to build them * arent in big trouble are they ? Ive got 6 figure sum with them, I knew there were some worries a few months back but nothing to bad.

[shaunbhoy]

You're on good form today SB.

Lucky nobody can see the coffee I've slobbered down my dark dress laughing at your posts

Why thank you marina, I do try.
And then 10 minutes later when I get my breath back, I try again.

[oracleslave]

You're on good form today SB.

Lucky nobody can see the coffee I've slobbered down my dark dress laughing at your posts

Don't worry, you get used to laughing at his posts after a while.

[Marina]

Don't worry about it, sg is probably just having his afternoon nap. It comes with age and will one day afflict us all. In the meantime just let the old codger have his snooze and be glad you cannot see him slobbering down his tweed jacket like a poacher's dog.

You're on good form today SB.

Lucky nobody can see the coffee I've slobbered down my dark dress laughing at your posts