Kaupthing is Not to Blame, Sort of

There is only one problem holding up the paying out of Edge accounts in Germany, and it has nothing to do with Kaupthing's ability to pay.  Kaupthing has the money to pay back all the accounts in full. The problem lies with the German bank to which Kaupthing must tranfer the money so the Edge customers can get paid.  It seems that Kaupthing has a debt not only with the Edge accounts but with the German bank itself.  So Kaupthing is afraid to transfer the funds for the Edge accounts for fear that the German bank will sieze the funds to cover Kaupthing's debt and not pay out the Edge accounts. Kind of humorous to the point of being sad, really.  Poor Karlheinz has come here when he should be at home, petitioning his bank to guarantee the transfered funds actually make it into his account and not into his bank's own account. Gook luck with that.

 GTB

Vill svör um spariféð

Athugasemdir

[Margrét (IP-tala skráð) 15.6.2009 kl. 16:02]

Then Kaupthing should pay those who come here like Karlhinz in Kaupthing in Reykjavik or/and GO to Germany with the money and pay it out there. This is a lousy excuse AND Kaupthing is getting interest on those money while they do not pay out.

Are they going to pay those people interests? I seriously doubt that.

No - this is not a valid excuse and you can believe sir that Icelanders, knowing how Kaupthing works, something else is keeping the matter. Something that Kaupthing will benefit from and no one else than Kaupthing.

[Gregg Thomas Batson, 15.6.2009 kl. 17:35]

Margrét,

No need to call me sir, Gregg works just fine.  

Kaupthing is benefitting by not paying the debt to the German bank.  If Kaupthing paid the people who came here to collect how then is Kaupthing supposed to close their accounts if they are not in a bank owned by Kaupthing? The German bank must pay out the account since it is in their bank and then only they can close the account.  Sorry, but that is how it works in the real world. The Edge account holders can ask the German bank to pay the interest since it is the one holding up the payment.

If you know of some other reason other than a conspiracy theory as to why the Edge accounts are not being paid I'd love to hear it.

GTB

[Hanna (IP-tala skráð) 15.6.2009 kl. 17:37]

He should not hold his breath.  Kaupthing is not the most trustworthy of banks.  They still have all the same people that robbed it before and DON´T bet your sweet life on their integrety. 

No Icelander does and foreigners should not either.