icelandic bamks? tough luck!!

[insanojackson]

Sick of the sight on tv of people moaning about loosing money they have invested in icelandic banks, this includes various local councils. They all seem to think the government should compensate them.

Why should this be the case?? you all invested your money in OFFSHORE bank accounts so that you would get higher interest on your cash, the government did not make you do it, you voluntarily mover your money out of the UK for your own financial advantage.

It my opinion its your decision,your risk, and your tough ****e!!! why should us taxpayers compensate you? if your accounts had been ok and you made a fortune would you have gave us a share? bollocks would you!

If you want your money to be safer you should have kept it in the UK!

if i gambled my money on a horse would the government compensate me?

[mark]

does annoy me that local councils are allowed to speculate with our money. money they should be spending, you'd think they'd learn, they had money in BCCI when it went bust and they lost the lot, few years later, they had money in Bearings, went bust lost the lot, now Iceland

They should not be allowed to speculate/invest in anything offshore with our money, in fact they shouldn't be allowed to speculate at all IMHO

They might as well just have a night down at the dogs and have done with it

[SIXFOOTSTEVE]

I totally agree with the sentiments here ,I turn the TV over when the winging starts as I'm sick to the back teeth of it .

I also reckon the press has got a lot to do with the countries problems as they seem hell bent on worrying people into spending less and therefor driving the money flow down further and further. Sending the economy spiralling downwards .

On a brighter note I did get a good deal on my Australian dollars.

[Norman]

Agree steve the media is guilty in whipping up a bit of a frenzy ..........
Thank God for Ross and Brand, the media left the money markets alone to concentrate on them and look what happenned .......... FTSE 100 up up and up again (at least Its heading the right way, back up lol)

As for councils Investing to gain ..... arrrrggggksjfhgsjjcvm;vlns;lv what about investing in the streets and services and if they think they`re ok then give us some back and let us invest it.

have a good trip to OZ steve, look forward to the pics ......

[Charlton]

instead of councils etc investing in foreign banks etc they should invest in home banks, with the money talked about this could quite well have lessened the effects on the UK acconomy with this recession, which I also agree has also been made worse by all the hype, causing people to stop spending. Another matter that causes the slump in share prices is simply that when the market starts to slump, share owners sell their shares which makes the shares drop even further, when they seem to bottom out they then buy the same number or more back at a lower price and they have made quite a little profit. Which starts the ecconomy off again. Unfortunately i was on holiday when the real recession started to bite and was unable to sell my few million shares. this is not the same as selling shres that you don't have hoping they drop, so you can then buy them at a lower price than you previously sold them, which in some circles has now been rightly made illegal.