Channel4 - Martin Lewis - Icesave

[pirate1012]

The Icelandic Government has a duty to look after its banking system just like the British, they failed to do that, just like the British, and is now paying the price, just like the British. You maybe a small country, but anyone can see that letting a banking system expand like Kapualting did is a recipe for disaster. Let your politicians dice with fire and you pay the price.

[stuntedmonk]

comment after comment was being left on his site by people questioning whether people should be putting their money into Icelandic banks. Contrary to what he says here there was total silence and these "highest rate" accounts were being featured right up until they went under.

[ufewl]

What a cunt Martin Lewis is, he makes out he is an expert and promotes unprotected banks.

His forum is also with horrible views allowed against the sick and disabled.

The BBC should not be promoting Lewis or his website

[deadrepublicantv]

The interviewer is somewhat of a cunt!

[tigranvartanovitch]

The Money Saving Menace has learned nothing out of this. He is now advising everyone to do business with the Post Office Bank. Don't worry if it goes bust, he says, the British taxpayer will pay you back to a max of 50 Gs. Anyone fool enough to listen to this JOURNALIST - and that's all he is, a fucking journalist, not a qualified financial adviser - fully deserves to lose their money.

[flaxvert]

Martin, you have advised us on bank charge reclaiming, and got me back 1800 quid, you have introduces me to cashback sites and earned me over 500 quid so far! I now pay 8p per month for virgin TV thanks to you! And for at least a year you have said on your website and on radio one to SPREAD your savings around. What idiot would put all his eggs in one basket? Well this bloke on the video here! More fool him. Spread the cash around! DONT SHOVE IT ALL DOWN ONE SOCK.!!

[macbookboy2]

Its not martins fault, he tries to advise on saving money!

[gunnarmh]

that's an awfull tie

[sean270674]

I dont feel that sorry for the guy in the wheelchair he had 150k and he decided to put all his eggs in one basket so to speak

[godandaginn123]

I live in Iceland and I'm having it very good! I don't feel any difference things are expensiver but have always been expensive so why complain?

This FEW fkn bankers were playing with the Icelanders money and lost this huge amounts !!!!!

Aaand WHAT CAN WE ICELANDERS DO? It is NOT OUR foult!!!! Iceland is still good in my opinion, people were just spending too much money be4...taking loans...etc

[Flatwheels01]

You sign a freaking agreement in which Iceland promised to pay us back. Kinda strange and really unacceptable that Iceland doesn't want to pay us back now.

[PesiCool]

Can you imagine how unfair and cruel this is towards Icelanders?

We have to pay more than half our GDP every year.

My hard earned money will go to paying the British and the Dutch for something that has nothing, absoloutly nothing to do with me, just because I was born in this beautiful country.

20.000 pounds per inhabitant? (Including children and senior citizens) -_-

[hughdaddy10]

It is Icelands fault. You voted in the government in. They didnt regulate the banks. Icelanders should take resposibility instead of blaming others

[PesiCool]

We didn't know the government was gona fuck up so bad...

[TheSchizotypal]

people investing in anything should take responsibility also as the country in which the investments were made

[galdur666]

@hughdaddy10 I never even heart of icesafe untill 2008, And surely not that I was to baile it out either . England and Holland gov have responsiblility here too for allowing this bank to operate and not be aware of what might happend.

[runirokk]

No, European laws do not oblige the land of origin to guarantee the insurance fund. European law says that the host country is responsible for ensuring that the banks operating in their country pay into that country´s insurance fund, and that´s that.

[BirgirZ]

@PesiCool

what he said!

[m1trekker]

@PesiCool But why as a British taxpayer should I pay for the debts of an Icelandic bank? My own preference would have been for the UK to not bail out RBS, LloydsHBOS, etc. I would also have preferred investors, such as UK councils not to have invested in Iceland, but have kept these billions closer to home and reduced my council tax.

[PesiCool]

@m1trekker Why should Icelandic taxpayers be responsible for the debts of a privatized bank? We guarantee the Icelandic accounts, and Britain should do the same for their own citizens and not Iceland because the UK government and regulators had access to all the information and they could easily have prevented this mess from happening in the first place. The Icesave debt is over 50% of the annual GDP in Iceland compared to what.. 0.002% of the UK ones?

[m1trekker]

@PesiCool Landsbanki knew the rules when it chose to enter the EU market; the lender of last resort (ie Iceland's government) has to underwrite - it is an EU directive for operating a bank in this market. The model you describe would not be tolerated in the EU since it is discriminatory. I probably agree with you on one point, the global banking model is not a good one, but it is the one that was legally in place at the time of the collapse.

[PesiCool]

@m1trekker This whole thing started when the banks were privatized and given away to some rich scum which had powerful connections. Needless to say, they fucked everyone and everything over for personal gain.

God, I hate capitalism.

[m1trekker]

@PesiCool I agree with you 100%, I hope Iceland can come out the other side in a healthy condition, and hard working Icelanders don't suffer too much - the greedy banking model should end and fundamentally the fat cats should be the ones who pay, after all they are the one who take the profits.

[PesiCool]

@m1trekker Hear hear, comrade!

[PesiCool]

*AS LONG AS THEY THINK WE HAVE TO PAY*

[jonniLoco]

people crying about money in this Wid,,,,YOU WIN SOME,,YOU LOSE SOME!!!! Asshole's...

[tobbi11]

what a gimmick, shame on channel4!

it looks like an american brodcast

[olafurj]

How could anyone think that a small country of 300.000 people could magically offer higher interest than the rest of the world???

It only worked while Icelanders were the only ones putting money in the banks, since they were the ones getting high interest loans.

[olafurj]

you gamble you loose. Higher interest with higher risk.

[freebiequeen1]

Would you get someone to re-wire your house with NO qualifications? Or a local chav to valet your car? So why listen to a man (Martin Lewis) who has NO qualifications in finance or economics.IF he sticks to saving us 10p off a cup off coffee then thats ok but anymore than that then the mans dangeroous

[freebiequeen1]

Lewis is trying to get everyone not to pay parking fines now because he got a ticket and did'nt like it,the mans a joke

[MegaBenny1111]

Martin Lewis is an expert at riddling out of things that go wrong and claiming victory over things he's claimed to do.All his ideas are just pinched off users of his website,the man is a total CON,DO NOT TRUST HIM EVERYONE OR YOU WILL LOSE MONEY.Channel 4 are are right to bring you to the notice of the weasel lewis,great interview and thankyou for bring this man to the attention of us mere mortals

[MegaBenny1111]

Martin lewis knows nothing about money the tight fisted little man

[gazlovescurry]

im going to shoot john snow

[tarquin1000]

Bollox Lewis,you recommended icesave so stop trying to wiggle out of it you weasel

[saevaroa]

People have a responsibility to do a backround checking before putting their money into some savings program.

[kalli8321]

LOL a country can't go bankrupt

[Skittershit]

spoke too soon moron

[treebucket3]

The Government knew at least as early as April 2008 that the Icelandic Banks were going to go tits up. They just didn't bother to tell anyone about it.

Don't take my word for it. Write to Vince Cable MP at the House of Commons. He knows all about this.

[itslynseyp]

This is such a set up it's farcical.

[Youzamodel]

lol Martin Lewis, casebook sellout. He is now a clown marketing banks on his forum and likely being paid to do it.

[DeltaNC]

Martin Lewis who spearheaded what is possibly the biggest mass refund against the banks ever? You think the banks like him?

[spallyman]

maybe jon show invested all his millions in Icesave on Martin's websites advice, and now is pissed off cos he has lost all his millions and millions of pounds. no more cocaine and whore parties for jon snow!!

[fordeee2000]

Icesave never had the money in your account in the first place, only a fraction of the amount. This is called fractional reserve banking. If it had all of your money there in it's vaults there would be no problem.

[spallyman]

its an internet saving service, so they dont have any cash at all. what are you talking about

[Tonkataff]

I like Martin, and also listen to him on Jeremy Vine... but this is the market that he is in and will always be in a position to get blamed if things go wrong and praised when things go right.

[carterst]

Look at the body language of Jon when he talks to martin and then the change when he talks to the disabled guy. PATRONISING MUCH? Its basicly saying "oh I feel really sorry for you coz you lost all this money and your in a wheelchair" A disgraceful hijack on ch4's part. Why have a go at Martin who isn't in the business of predicting anything anyway?! Even if he was, if someone had told me 12 months ago that countries like Iceland would be going under I'd have called the men in white coats!.

[spallyman]

i'd agree

[dawniecarl]

Disgraceful dig at Martin bringing that disabled guy on beside him. I get mse emails and they all say to invest max £35k per bank

[plasticxstigmata]

I'm surprised at channel 4 news and how they handled this..

"Feel guilty yet..No? Here's a guy in a wheelchair who lost money.. So uh, how bad do YOU feel"

[trouserferret]

Not up to Channel 4's usual standards. Martin's site has been clear on this for a long time and it was instrumental in my decision not to invest much in Icesave. I went with Kaupthing because it was fully backed by the FSCS but, thanks again to contributors to MSE, I pulled those savings into Northern Rock well before they went down.

[nikinii98]

This is very poor show on C4's behalf. MArtin isn't lying as what he says is true, his blogs say what he says, and I have listened to him for months on Jeremy Vine telling people to only have so much cash in one account. You can't blame Martin for this, and C4 blatantly used that disabled guy to make Martin look back. Its terrible that they are using MArtin as a scape goat when really all that's gone wrong is we live in a 'Want something have it pay later' society. Give Martin a break!

[lament234]

Ridiculous!! I remember Martin warning loud and clear about the compensation issue. If it wasn't for that, people may invested even more money in Icesave!

[ark1588]

has martin lewis (or anyone) warned about how difficult it will be to get any money back from the 'government guarantee' whether of not below 35/50k .

350000 investors by post !?

[checkthefactsfirst]

Wow, Martin Lewis has obviously pee'd someone off at C4.

How on earth, can Jon have a go about advice given out a year ago?? Things change! It was rude to not even bother getting the website name right. I wonder how often disabled people with speech impediments are interviewed on C4 news. This guy hadn't even invested his money on Martin's say so. If he had, he wouldn't have £150k in one place.

This interview is so much of a set up to try and make ML look bad, it's almost laughable.

[Bhunnaandchips]

He deserves to be grilled over this. He has an online following that follow blindy his every word, he gives financial advice and then states in the same print that it does not constitute financial advice. He has made himself part of the banks online marketing machine and it is disgraceful he's profitted from this. Martin how about handing the money you earnt from referring thousands to Icelandic banks to charity? He was so smug, it's quite funny to see him squirm.

[spallyman]

yeah but he just lists the rates of interest which are factual bits of information no?

[Heroditusopus]

I hear people are now initiating legal action against Martin Lewis's site for implying that you could invest 35k and this would be backed by the UK.

[LASTMAN024]

66:5x2

I dont think so.

Anyway, get your mind and act right.

Even knowing that the crappy ass robbery in england was a cia and mi5.6 tactic.

[WonkyDoodle]

This guy wants to help people, even though he doesnt have to. Id like to see how well off people would be without his advice in all things financial and otherwise. Maybe those that took his advice should have been their own expert and did some research themselves. They can freeze to death this winter for all I care.

[bertiejprocter]

Is this another Sakvithi Ranasinghe who manufactured a larger than life image for himself as a benevolent, enterprising young Sinhala businessman and has now fled Sri Lanka after duping thousands of unsuspecting people to deposit their lifes savings in his investment firm.

[JohnGalbraith1961]

This is poor poor show from Ch4.

[5andeep]

Wonder how much commission Martin and MSE received from their click throughs to Icesave.

[KEYOTWISTEDJOKER]

Jon Snow was bit upset, the guy they really wanted for the interview who is on his last legs and also has an oxygen tank attached to his wheel chair was fully booked that night, so they had to use the wheelchair guy

[ramborai1987]

martin's career going down the pan at 6.45

he better amortise all his goodwill on his next set of accounts.

[MDEMONIC689]

Yeah ok, get some cripple to sit next to him, so he looks really bad.

God i hate the media lately, it's so obvious how they think, they clearly wanted MSE to look bad next to the cripple who automatically gets the sympathy vote.

They were not even subtle about it.

[111Socrates777]

Martin is an arse-saving prick

[tomstickland]

"Sorry, the guy has lost all credibility now. Money Saving Expert? There is no such thing I'm afraid "

12 months ago if you said that a single worldwide bank would go down then people would think that you were mad. Martin Lewis has not doing anything wrong, his credibility has not been challenged and the Website still contains enough information to make someone into a money saving expert.

[jabberwock95]

Excuse me, but where do people get off blaming Martin Lewis for the problems of this bank? The man offers free and objective consumer advice, only for people to tar and feather him when a financial institution mentioned on his site goes tits up.

And setting somebody up on a TV interview against a man in a wheelchair? A new low. Why not tape some horns to Martin's forehead and give him a pitchfork to hold. Y'know, just so the viewers arent in any doubt as to who the bad guy is. Jeez...

[nitebot]

Yeah, pretty disgraceful. Shame on Jon Snow for letting such an interview go ahead.

All financial decisions have some risk and we've just got to live with it.

[geezer466]

No mention from Lewis on the major wonga he got from the affiliate signups to Icesave from his Website then?

[Lauraanton1977]

I thought that Martin came across on this really well, sounded very concerned and sincere. Martin is not to blame on this at all

[JonnyboyUK2]

Didn't realise he was a donut puncher.

[ufewl]

Not Martins fault.

[KorkyDaKat]

It's so easy to criticise the man who does more for U.K. consumers than anybody else I can think of.

Martin has never given incorrect information on IceSave. Martin is not a Financial Adviser - if you want one bloody well for for one.

Anybody who went into IceSave blind must be thick as two short blanks. They stated on their web what the compensation was and how it worked. If you can't be arsed to read then blame yourself not Martin Lewis. Do your own research.

[siddersmum]

Bullshit - this bank's whole marketing campaign was showing itself as one of the safest places to put your money.People who saved with this bank aren't greedy or stupid, most are hardworking mc professionals. Again it's the middle classes suffering,squeezed by paying all the tax and trying to be careful with their money, rather than sitting on their backsides waiting for tax credits to hit the grubby doormat.

[southcoastsounds]

Sorry, the guy has lost all credibility now. Money Saving Expert? There is no such thing I'm afraid

[blackbeanstirfry]

Hopefully this is the end of the cult of Martin Lewis. Here's the pompous reponse on his website to the news that the British taxpayer is going to pay out the £4 billion to rescue his followers (he gets to keep the money he made from click throughs): 'We are extremely happy, like everyone else is, that the Treasury have stepped in to cover the Icelandic government's commitments, plus guarantee cash above and beyone the £50k. it is fantastic news.'

[mpcref]

BEST Austin Powers impersonator... EVER!

YEAH BABY! Very Shagadellic!

[KEYOTWISTEDJOKER]

This one word "DODGY" included in Martins advice would have stopped most if not all from investing in icesave, him now using the word puts him to shame, its almost a dont blame me cop out, his advice of the the ice save compensation scheme was it may just be a bit more involved, not as he is now saying, dodgy.

[Heroditusopus]

Martin Lewis was one of those saying that you could invest 35,000 in Icesave safely (in his early assessment of Icesave offers). He did not mention that a portion of the 35,000 (roughly 16,000) was covered by the Icelandic government, a material and negligent ommission. Even if I recover all my investment (my savings are below the 35,000) threshold, I will be looking to take action against the FSA, Lewis's site and many other media outlets for this negligence. Other Icesavers are doing the same.

[irresistiblemerrick]

Yep.....Martin Lewis is why I invested my money in Icesave. More fool me perhaps but I'm glad he feels guilt free. Drugs and gold from now on :)

[strategiccommand]

Of course nothing is your fault, is it?

[irresistiblemerrick]

more fool me perhaps was written. quentin

[strategiccommand]

My earlier post was not a reply to you, hence the thread structure.

I've no problem with people blaming Martin Lewis for bad advice, but as they didn't pay for it, it's their look out. Plus, to be fair, he's actually helped advance knowledge - I knew about the structure of the compensation schemes ahead of crunch time because of him.

[strategiccommand]

Hey, wierd, looks like threads don't work the way I thought they should here. My OP was a reply to Herod.

[irresistiblemerrick]

sorry x

[thedevilinside]

no, attaching value to meaningless digits is what bites you on the ass.

[numberstation]

You use a foreign bank for higher interest,you get bit on the arse,you took the gamble.

[irresistiblemerrick]

....yes because british banks are solid as a rock

[thedevilinside]

i warned about this. :(