Comments on: Don’t bother switching banks http://www.johnband.org/blog/2008/10/02/dont-bother-switching-banks/ The idle musings of John B Mon, 02 Jan 2012 17:27:31 +0000 http://wordpress.org/?v= hourly 1 By: John B http://www.johnband.org/blog/2008/10/02/dont-bother-switching-banks/comment-page-1/#comment-66404 John B Tue, 07 Oct 2008 12:49:46 +0000 http://www.johnband.org/blog/?p=182#comment-66404 Thing I should have said in this post that were obvious last week and have now indeed happened: none of the above applies to Icesave, because it's compensated by the Icelandic government and not the Bank of England, and if the big Icelandic banks fail the government will probably go bust too, so for the love of God get your savings out of Icesave. Err, sorry. (although in all honesty I'd be surprised if the BoE didn't end up bailing out savers in Icesave UK accounts, assuming the Icelanders fail to do so) Thing I should have said in this post that were obvious last week and have now indeed happened: none of the above applies to Icesave, because it’s compensated by the Icelandic government and not the Bank of England, and if the big Icelandic banks fail the government will probably go bust too, so for the love of God get your savings out of Icesave. Err, sorry.

(although in all honesty I’d be surprised if the BoE didn’t end up bailing out savers in Icesave UK accounts, assuming the Icelanders fail to do so)

]]> By: Mark Wadsworth http://www.johnband.org/blog/2008/10/02/dont-bother-switching-banks/comment-page-1/#comment-65063 Mark Wadsworth Thu, 02 Oct 2008 18:16:34 +0000 http://www.johnband.org/blog/?p=182#comment-65063 Ta for comment re pensions. Your post on why private sector final salary schemes are dying out was added to my Words of Wisdom section long ago. My subsidiary point is that it would be dead easy for UK pension funds to circumvent the so-called Pensions Raid - they just have to move from investing in each other's shares to investing in each other's bonds. Two birds, one stone. Ta for comment re pensions. Your post on why private sector final salary schemes are dying out was added to my Words of Wisdom section long ago.

My subsidiary point is that it would be dead easy for UK pension funds to circumvent the so-called Pensions Raid – they just have to move from investing in each other’s shares to investing in each other’s bonds. Two birds, one stone.

]]> By: Jim Bliss http://www.johnband.org/blog/2008/10/02/dont-bother-switching-banks/comment-page-1/#comment-65019 Jim Bliss Thu, 02 Oct 2008 14:41:05 +0000 http://www.johnband.org/blog/?p=182#comment-65019 About the only rationale I can see for the Irish government's decision (which I really can't fathom either) is precisely to mislead British savers into dumping their cash into Irish banks in the hope that might shore them up. Other than that, this guarantee runs a very real risk of bankrupting the country. About the only rationale I can see for the Irish government’s decision (which I really can’t fathom either) is precisely to mislead British savers into dumping their cash into Irish banks in the hope that might shore them up.

Other than that, this guarantee runs a very real risk of bankrupting the country.

]]> By: The Sharpener » Blog Archive http://www.johnband.org/blog/2008/10/02/dont-bother-switching-banks/comment-page-1/#comment-65006 The Sharpener » Blog Archive Thu, 02 Oct 2008 13:59:17 +0000 http://www.johnband.org/blog/?p=182#comment-65006 [...] Don’t bother switching banks [...] [...] Don’t bother switching banks [...]

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