Sunday, December 28, 2008
Latest Icelandic Krona/US Dollar Quote
The latest quote for the ISK/USD exchange rate is 145/$. This comes from Everbank's own publication the "Daily Pfenning" as of today. Everbank closed out my first "CD" two months ago at 250/$ and my second "CD" two weeks ago at 175/$. Both were converted back to $ against my wishes. If they had remained open as I had requested, the first "CD" would today be worth 40% more, the second "CD" 15% more. What exchange rate did Everbank use to close out your "CD"?
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4 comments:
I'm glad there's a place to keep history online for this. My experience is nearly identical, my 1st CD was closed out against not only my wishes, but my Federal Expressed, Signed-For orders to NOT close it out. They did so on Oct29 @ 252.76:1. The second CD on Dec17 @ 176.92:1.
I have filed complaints with the OTS, 3 State Attorney Generals and the FDIC at this time. But it seems quite unlikely any kind of redress will come of these entities, which appear to be more 'friends' with an 'bank institution' like Everbank than actually there and existent for the role they have been hired and funded as. A bit like all the other stories going around, Bernard Madoff style, just quite a bit less visible (except if you've just been swindled of 20 grand like me).
I’m hoping for a SERIOUS class-action lawsuit against them, with a public reprimand directed upon them, with immediate cessation of all their so-called World Markets CDs. I will also consider private lawsuit against Everbank in the 2nd half 2009 should nothing righteous have happened by that time.
I too took a 30K loss when two CDs were closed out against my wishes. If Christian or anyone else has any information about initiating or joining a class action law suit, I'd appreciate it. I have no problem with sustaining a legitimate investment loss but this was not your standard currency depreciation loss. There's something fishy about this entire issue and I plan on getting to the root of the matter, one way or another.
To ao: brave words, but it'll be an uphill task. Any responses so far from any govt entities you complained to?
Our family had a 100k bond in the r44 housing fund...
I tried to sell Oct 6 2008...the broker somewhat assured me that he was going to sell it..
He didnt call me back at all..I called back 3 weeks later..and the bond had not been sold..I called Central Bank of Iceland ..they told me the Kronor was still exchangeable on Wednesday the 8th of Oct..Everbank told me that they couldnt sell the bond because their NY liason had no local buyers in NY..Central Bank of Iceland says all bonds trade in market in Iceland...and why would you look for a local buyer when liquidity would be so poor..
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