Bradford and Bingley

[david mcgee]

B&B will be nationalised this weekend, it will probably be dumped into the Northern Rock wreckage.

 

The Government ( or tax payers ) will cop their mortgage book.

 

Anything worth a sook will probably be distributed amongst the rest of our failing banks.

 

You wont read this anywhere, but the UK government twisted the arms of our leading banks to plunge ?400 million into B&B to shore them up, as this has now gone down the swanny its fair to imagine that it will be pay back time financed by the UK tax payer.

 

Fortis the largest Belgian bank is in severe danger of being the next European casualty.

If you havent heard of them, they are one of three financial organisations who bought ABN Amro, RBS was one of the others.

They hold 1/3rd of the UKs Car insurance policys under various names so you could be a customer of theirs without even knowing it.

[davemclaren]

http://news.bbc.co.uk/1/hi/business/7640143.stm

[Sooperstar]

B&B will be nationalised this weekend, it will probably be dumped into the Northern Rock wreckage.

 

The Government ( or tax payers ) will cop their mortgage book.

 

Anything worth a sook will probably be distributed amongst the rest of our failing banks.

 

You wont read this anywhere, but the UK government twisted the arms of our leading banks to plunge ?400 million into B&B to shore them up, as this has now gone down the swanny its fair to imagine that it will be pay back time financed by the UK tax payer.

 

Fortis the largest Belgian bank is in severe danger of being the next European casualty.

If you havent heard of them, they are one of three financial organisations who bought ABN Amro, RBS was one of the others.

They hold 1/3rd of the UKs Car insurance policys under various names so you could be a customer of theirs without even knowing it.

 

Thanks for the inside info.

 

Parp.

[coppercrutch]

B&B will be nationalised this weekend, it will probably be dumped into the Northern Rock wreckage.

 

The Government ( or tax payers ) will cop their mortgage book.

 

Anything worth a sook will probably be distributed amongst the rest of our failing banks.

 

You wont read this anywhere, but the UK government twisted the arms of our leading banks to plunge ?400 million into B&B to shore them up, as this has now gone down the swanny its fair to imagine that it will be pay back time financed by the UK tax payer.

 

Fortis the largest Belgian bank is in severe danger of being the next European casualty.

If you havent heard of them, they are one of three financial organisations who bought ABN Amro, RBS was one of the others.

They hold 1/3rd of the UKs Car insurance policys under various names so you could be a customer of theirs without even knowing it.

 

Interesting news about Fortis. They are currently doing work with RBS to split up the working parts of ABN Amro as part of last years deal.

 

I wonder how their demise may affect that......

[Munch]

Interesting news about Fortis. They are currently doing work with RBS to split up the working parts of ABN Amro as part of last years deal.

 

I wonder how their demise may affect that......

 

The word on the street is RBS are next, possibly to be gobbled up by HSBC, Watch this space.

[coppercrutch]

The word on the street is RBS are next, possibly to be gobbled up by HSBC, Watch this space.

 

Your 'news on the street' is usually about 6 months late !!

 

Fred Goodwin has been an idiot. His purchase of ABN Amro will go down as one of the worst financial decisions ever. I am surprised he is still in his position.

 

As for B & B they deserve to go bust. Now it looks like us taxpayers are on the hook for ?40 billion more mortgages that nobody else wants. Excellent.

[Munch]

Your 'news on the street' is usually about 6 months late !!

 

Fred Goodwin has been an idiot. His purchase of ABN Amro will go down as one of the worst financial decisions ever. I am surprised he is still in his position.

 

As for B & B they deserve to go bust. Now it looks like us taxpayers are on the hook for ?40 billion more mortgages that nobody else wants. Excellent.

 

Its nearing the end for RBS, There will be an announcement next week, the party is over, and you are correct it has been simmering for the last 6 months, it will come to a head next week, 18 Billion loss in the USA Sub prime toxic mortgages, and the ABN Disaster is the straw that broke the camels back, Bye Bye.

[Munch]

Your 'news on the street' is usually about 6 months late !!

 

Fred Goodwin has been an idiot. His purchase of ABN Amro will go down as one of the worst financial decisions ever. I am surprised he is still in his position.

 

As for B & B they deserve to go bust. Now it looks like us taxpayers are on the hook for ?40 billion more mortgages that nobody else wants. Excellent.

 

I would ask you who you think is next to go after RBS, but when you think about it there is no more banks left to topple once RBS are gone, or is there ?

[coppercrutch]

I would ask you who you think is next to go after RBS, but when you think about it there is no more banks left to topple once RBS are gone, or is there ?

 

Not sure about RBS. It is a big possibility but just rumours so far. Where you get your info from ? (Don't have to be too exact of course )

 

Every bank could be in trouble. That is the worry !!

 

The real worries were NR, B & B, A & L and HBOS. They have all been outed now in one way or another.

 

By the way the US 'bailout' is getting interesting. Paulson was apparently actually down on his knees to some Senator yesterday !!!

 

Paulson is worth 700 million dollars apparently.

 

All gained from banking.

 

The words 'interest', 'conflict' and 'of' spring to mind.

 

This guy is basically being given the right to use taxpayers money to pick and choose which of his business buddies to bail out.

 

It is theft from the US taxpayer - nothing less.

 

Let's hope they see some sense and ensure the taxpayer gets some equity for these deals.

[bigwull22]

Do you all still think Private sector good, Public sector bad now? All the ripping off by the private sector in the desperate search for ever more increasing profits is coming home to roost.

[coppercrutch]

Do you all still think Private sector good, Public sector bad now? All the ripping off by the private sector in the desperate search for ever more increasing profits is coming home to roost.

 

Both sectors can work. Recently though both have been a pile of pish.

 

Public sector incredibly inefficient.

Private sector incredibly greedy.

 

Recipe for disaster. Coming home to roost as you say - all at the same time.

[bigwull22]

Both sectors can work. Recently though both have been a pile of pish.

 

Public sector incredibly inefficient.

Private sector incredibly greedy.

 

Recipe for disaster. Coming home to roost as you say - all at the same time.

 

spot on!!!

[coppercrutch]

spot on!!!

 

What grates with me is that we will all end up paying for it !!

 

I work hard. I have never claimed any benefits. I look after myself healthwise. I pay my tax and NI and have since I was 16. Yet I am going to have to pay for others inefficiency and greed through no fault of my own.

Oh, that ****es me off! That ****es me right off! *

 

That Guy Fawkes had the right idea. I can see where he was coming from.

 

* Name the film.

[bigwull22]

What grates with me is that we will all end up paying for it !!

 

I work hard. I have never claimed any benefits. I look after myself healthwise. I pay my tax and NI and have since I was 16. Yet I am going to have to pay for others inefficiency and greed through no fault of my own.

Oh, that ****es me off! That ****es me right off! *

 

That Guy Fawkes had the right idea. I can see where he was coming from.

 

* Name the film.

 

Everyone will end up paying for it except the yanks as usual. Thats why they have the massive army/navy

[Munch]

Not sure about RBS. It is a big possibility but just rumors so far. Where you get your info from ? (Don't have to be too exact of course )

 

Every bank could be in trouble. That is the worry !!

 

The real worries were NR, B & B, A & L and HBOS. They have all been outed now in one way or another.

 

By the way the US 'bailout' is getting interesting. Paulson was apparently actually down on his knees to some Senator yesterday !!!

 

Paulson is worth 700 million dollars apparently.

 

All gained from banking.

 

The words 'interest', 'conflict' and 'of' spring to mind.

 

This guy is basically being given the right to use taxpayers money to pick and choose which of his business buddies to bail out.

 

It is theft from the US taxpayer - nothing less.

 

Let's hope they see some sense and ensure the taxpayer gets some equity for these deals.

 

The information comes from a very high source and all his other predictions have came home to roost, i got the tip ref HBOS a month ago although i dismissed that rumor as it seemed to incredible to believe.

 

Another story i have been told ref a Mr Alexander and a bank foreclosing bottom line is it is all going to go belly up very soon, with a lot of toxic debt left behind all to do with properties highly geared and over valued.

[footieman]

Now where did I leave my salt........

[coppercrutch]

The information comes from a very high source and all his other predictions have came home to roost, i got the tip ref HBOS a month ago although i dismissed that rumor as it seemed to incredible to believe.

 

Another story i have been told ref a Mr Alexander and a bank foreclosing bottom line is it is all going to go belly up very soon, with a lot of toxic debt left behind all to do with properties highly geared and over valued.

 

I think you will find the Alexander story was warned by myself almost a year ago.

 

I even wrote to the Mail about it.

 

Will keep an eye out for the RBS angle in the next few weeks.

 

Werent you planning to buy a flat in Gorgie a few months back ?

 

Take it you have changed your mind....

 

Fact is most 'senior people' in large organisations have zero clue. They will tell you when things are about to go teets up and then sit back and it will look like they know what they are talking about.

 

If they had been telling you these things a year ago then yes they are worth listening too. If not then all they are doing is passing on information from their work. Not a difficult thing to do.

 

There is plenty of juicy information I could pass on from where I work. Rather relevant to this discussion actually.

 

However I prefer to look at the bigger picture. I am no expert but I know a little about what is going on here. That means when it comes to this particular situation I probably know more than many a CEO of top financial or property companies did a few years ago.

 

I bet you 2 years ago Fred Goodwin didn't even know what a RMBS was and had zero clue that the property market was about to tank. If he did then he wouldn't have been trying to grow the high LTV mortgage side of the RBS business as much.

 

In his job he probably didn't have to at the time. He left that to his minions and let them give him the basic details - namely $$$.

 

He will only have bothered to read up about all this **** in the last year or so. The guys background is in retail banking. His knowledge of this sort of issue was probably minimal at best.

 

I imagine the heads of most other banks are in exactly the same situation. Yet these are the people who we are hoping to get us out of this mess. The same people who created it in the first place....

 

Scary **** !!!

[Munch]

I think you will find the Alexander story was warned by myself almost a year ago.

 

I even wrote to the Mail about it.

 

Will keep an eye out for the RBS angle in the next few weeks.

 

Werent you planning to buy a flat in Gorgie a few months back ?

 

Take it you have changed your mind....

 

Fact is most 'senior people' in large organisations have zero clue. They will tell you when things are about to go teets up and then sit back and it will look like they know what they are talking about.

 

If they had been telling you these things a year ago then yes they are worth listening too. If not then all they are doing is passing on information from their work. Not a difficult thing to do.

 

There is plenty of juicy information I could pass on from where I work. Rather relevant to this discussion actually.

 

However I prefer to look at the bigger picture. I am no expert but I know a little about what is going on here. That means when it comes to this particular situation I probably know more than many a CEO of top financial or property companies did a few years ago.

 

I bet you 2 years ago Fred Goodwin didn't even know what a RMBS was and had zero clue that the property market was about to tank. If he did then he wouldn't have been trying to grow the high LTV mortgage side of the RBS business as much.

 

In his job he probably didn't have to at the time. He left that to his minions and let them give him the basic details - namely $$$.

 

He will only have bothered to read up about all this **** in the last year or so. The guys background is in retail banking. His knowledge of this sort of issue was probably minimal at best.

 

I imagine the heads of most other banks are in exactly the same situation. Yet these are the people who we are hoping to get us out of this mess. The same people who created it in the first place....

 

Scary **** !!!

 

Interesting stuff, on the Gorgie flat i bidded for one last week in wheatfield street 70k i was the lowest of 3 offers so i did not get it, it was being sold by morrisons llp.

[davemclaren]

Interestingly ( to me at any rate ) SOS today stated that B&B was the last of the building societies that changed to become banks in the 90s to retain its independence.

 

All the others have either gone to the wall, 'merged' or been taken over.

[Geoff Kilpatrick]

It looks like the toxic sink will go ahead. Paulson's blackmail has worked to a greater or lesser degree.

 

RBS will be praying that they can dump into it big style before HSBC gobble them up.

 

That would produce a big 3 of HSBC/RBS, Lloyds/HBOS and Barclays. An erosion of choice and smaller competition. In some senses this isn't a bad thing - it means there'll be less stupid offers come the next bubble but it does also mean that higher margins will be charged across the piece for business funding etc. That will hinder economic growth post this recession.

[coppercrutch]

Interesting stuff, on the Gorgie flat i bidded for one last week in wheatfield street 70k i was the lowest of 3 offers so i did not get it, it was being sold by morrisons llp.

 

No harm in keeping on putting in cheap offers. One will get accepted eventually. I would wait a wee while myself. I think these flats will be down to 60-70k as standard for a one bed ready to move in Gorgie flat. Most busts undershoot though so right at the bottom I imagine they will go lower.

 

Keep us posted !!

 

Interestingly ( to me at any rate ) SOS today stated that B&B was the last of the building societies that changed to become banks in the 90s to retain its independence.

 

All the others have either gone to the wall, 'merged' or been taken over.

 

And the only big one left, Nationwide, has gone from strength to strength ( So far)

 

It looks like the toxic sink will go ahead. Paulson's blackmail has worked to a greater or lesser degree.

 

RBS will be praying that they can dump into it big style before HSBC gobble them up.

 

That would produce a big 3 of HSBC/RBS, Lloyds/HBOS and Barclays. An erosion of choice and smaller competition. In some senses this isn't a bad thing - it means there'll be less stupid offers come the next bubble but it does also mean that higher margins will be charged across the piece for business funding etc. That will hinder economic growth post this recession.

 

I think that is spot on. They will be able to increase their supply of the market whilst still being picky. Why would they risk lending to the riskier part of the market ? Little point.

 

We could see a whole new group of people simply unable to get any serious amount of credit. Not a bad thing as you say.

 

As for the business funding aspect I don't know much about that. I imagine the same risk aversion will take over.

[coppercrutch]

Interesting news about Fortis. They are currently doing work with RBS to split up the working parts of ABN Amro as part of last years deal.

 

I wonder how their demise may affect that......

 

The word on the street is RBS are next, possibly to be gobbled up by HSBC, Watch this space.

 

Looks like my worries about RBS all those months ago may be coming to fruition.

 

http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article4837674.ece

 

"Any uncertainty around the future of Fortis is likely to weigh heavily on Royal Bank of Scotland. Fortis was one of RBS?s partners in the consortium that bought ABN Amro last year.

 

The Dutch banking assets that Fortis bought as part of the deal have yet to be transferred out of the holding company used to execute the deal, which is legally a subsidiary of RBS"

 

So if I am reading this correctly RBS still hold the parts of ABN AMRO that Fortis are buying ?

 

Now if Fortis go bust or are taken over who knows what will happen to that part of the deal...

 

Looks like RBS could be left holding the baby....

[Munch]

Looks like my worries about RBS all those months ago may be coming to fruition.

 

http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article4837674.ece

 

"Any uncertainty around the future of Fortis is likely to weigh heavily on Royal Bank of Scotland. Fortis was one of RBS?s partners in the consortium that bought ABN Amro last year.

 

The Dutch banking assets that Fortis bought as part of the deal have yet to be transferred out of the holding company used to execute the deal, which is legally a subsidiary of RBS"

 

So if I am reading this correctly RBS still hold the parts of ABN AMRO that Fortis are buying ?

 

Now if Fortis go bust or are taken over who knows what will happen to that part of the deal...

 

Looks like RBS could be left holding the baby....

 

Yip its a mess RBS will be taken over by HSBC, YOU WONDER WHO WILL BE NEXT TO FALL.

 

This plan in America to buy all the toxic debt, could save RBS if they can offload there garbage to the US Tax payer though.

 

As for mr Alexander, his party is over.

[coppercrutch]

Yip its a mess RBS will be taken over by HSBC, YOU WONDER WHO WILL BE NEXT TO FALL.

 

This plan in America to buy all the toxic debt, could save RBS if they can offload there garbage to the US Tax payer though.

 

As for mr Alexander, his party is over.

 

If that goes ahead you won't believe how messy it will be. Their current programme of ABN Amro work is only planned to complete in 2010. If they then get bought over by HSBC I cannot imagine the mess that will entail.

 

As for Alexander could not have happened to a nicer man.

 

I actually warned someone very high up in the Scotsman about him using his label as 'property expert' to try and save his own skin and spout propaganda in the paper. I also warned them about what was coming from the Edinburgh property market about 18 months ago.

 

They thought I was talking nonsense. Carried on with their nonsense reporting with 'experts' such as Alexander telling everyone that Edinburgh was different.

 

They were right in one way though. Edinburgh is different. But not in a good way.

 

With what is going on with HBOS/RBS and tourism just now we are going to be one of the hardest hit areas in the entire UK when it comes to this 'crunch'.

 

I stated this about a year ago. So I expect to see the Scotsman with a similar 'exclusive' any time soon.

 

[Munch]

If that goes ahead you won't believe how messy it will be. Their current programme of ABN Amro work is only planned to complete in 2010. If they then get bought over by HSBC I cannot imagine the mess that will entail.

 

As for Alexander could not have happened to a nicer man.

 

I actually warned someone very high up in the Scotsman about him using his label as 'property expert' to try and save his own skin and spout propaganda in the paper. I also warned them about what was coming from the Edinburgh property market about 18 months ago.

 

They thought I was talking nonsense. Carried on with their nonsense reporting with 'experts' such as Alexander telling everyone that Edinburgh was different.

 

They were right in one way though. Edinburgh is different. But not in a good way.

 

With what is going on with HBOS/RBS and tourism just now we are going to be one of the hardest hit areas in the entire UK when it comes to this 'crunch'.

 

I stated this about a year ago. So I expect to see the Scotsman with a similar 'exclusive' any time soon.

 

 

Fair comment, however you fail to understand the size of the portfolio that Mr Alexander is involved in over 1000 central Edinburgh properties which will all be seized in one go, they will have to be marketed so the lenders can try to recoup some of the money they are due.

 

This could cause an earthquake within the Edinburgh property market, if these properties are not sold within a few months then its of to Auction and its a fire sale.

 

Properties at Grunton harbour are being auctioned for as low as 150k sold for 260k 3 years ago.

 

Hertor properties are all new town if they are fire sailed at auction you will see a 40% drop in the whole central Edinburgh market by the year end.

[Commander Harris]

nothing to see hear. made a mistake.

[systemx]

Now that B&B has been officially nationalised does that mean that those who held mortgages with them now live in "cooncil hooses"?

[Geoff Kilpatrick]

I see they have applied the FSCS to avoid taxpayer liability. The banks will love that after being tapped when the hat was passed round to try and save B&B!

[coppercrutch]

I see they have applied the FSCS to avoid taxpayer liability. The banks will love that after being tapped when the hat was passed round to try and save B&B!

 

400 million wasn't it ? Only a few months ago as well.

 

I wonder how that will pan out when the details emerge ?

 

Money well spent.....I doubt it !!

[david mcgee]

Robert Pestons report on the BBC website suggest BBs demise could cost the other UK banks as much as ?14 billion.

 

If it is that much i reckon that could bring the whole house of cards tumbling down!

[Geoff Kilpatrick]

Robert Pestons report on the BBC website suggest BBs demise could cost the other UK banks as much as ?14 billion.

 

If it is that much i reckon that could bring the whole house of cards tumbling down!

 

I've just read Peston's article and it says ?9-10bn max. However, his main thrust is why the other banks didn't rally round and buy B&B. To me, the main reason is trying to understand the implications of the States bailout plan on the banks. Joe Sixpack could become a part owner of RBS, say, under this plan so their attention is elsewhere, i.e. whether to dump or not.

[david mcgee]

I've just read Peston's article and it says ?9-10bn max. However, his main thrust is why the other banks didn't rally round and buy B&B. To me, the main reason is trying to understand the implications of the States bailout plan on the banks. Joe Sixpack could become a part owner of RBS, say, under this plan so their attention is elsewhere, i.e. whether to dump or not.

 

Just read it again and your right he says ?9 - 10 billion, i got ?14 billion into my head because in the second part of his blog he says these banks are liable for up to ?14 billion.

 

Either way, could it be that these banks did not step in to bail it out because they simply dont have the capital so prefer to sit on their hands and wait for a miracle?

[Geoff Kilpatrick]

Just read it again and your right he says ?9 - 10 billion, i got ?14 billion into my head because in the second part of his blog he says these banks are liable for up to ?14 billion.

 

Either way, could it be that these banks did not step in to bail it out because they simply dont have the capital so prefer to sit on their hands and wait for a miracle?

 

I don't necessarily think it's a case of the banks not "having" it, they are just hoarding it because they don't know what the bottom is yet either.

[david mcgee]

I don't necessarily think it's a case of the banks not "having" it, they are just hoarding it because they don't know what the bottom is yet either.

 

Either way its not going to make them avoid taking the hit in the future and goes some way to explain the further plunge in their share prices today.

 

They cant blame short sellers this time.

 

Isint it funny argueing over a few billion, i used to worry when i heard a company was loosing thousands, then millions and now billions, and in the States its now trillions. Hyper inflation in debt markets at least.

[jambos are go!]

Can I ask a question. Are the so called bad debts totally lost or just very dodgy. Will some or all actually be able to recovered through, Selling profitable parts, selling proertiesat a loss or the debtors moving mortgages or getting their financial act together. I heard one pundit on TV saying that a huge amount of Northern Rocks liabilities had been recovered because folk with motgages moved out when they put there lending rates up.

 

That logic seems to me to suggest that a headline figure of ?xBillion for any rescue represents potential liability rather than likely liability.

[david mcgee]

Can I ask a question. Are the so called bad debts totally lost or just very dodgy. Will some or all actually be able to recovered through, Selling profitable parts, selling proertiesat a loss or the debtors moving mortgages or getting their financial act together. I heard one pundit on TV saying that a huge amount of Northern Rocks liabilities had been recovered because folk with motgages moved out when they put there lending rates up.

 

That logic seems to me to suggest that a headline figure of ?xBillion for any rescue represents potential liability rather than likely liability.

 

At the end of the day your house is only worth what someone else is willing to pay for it.

This bail out is the only show in town, nobody else will touch these toxic assets so the price will be set by Government.

These pieces of paper are not necessarily worthless but the Banks that hold them do not have the capital to cover the potential liabilities, they there for need to get them off there books or they will effectively be insolvent.

The Government can hold them indefinately and when things eventually pick up recoup some of their losses.

[coppercrutch]

Either way its not going to make them avoid taking the hit in the future and goes some way to explain the further plunge in their share prices today.

 

They cant blame short sellers this time.

 

Isint it funny argueing over a few billion, i used to worry when i heard a company was loosing thousands, then millions and now billions, and in the States its now trillions. Hyper inflation in debt markets at least.

 

What !! You mean Salmond and his "Spivs and speculators" bleating was complete nonsense !!

 

The guy is in charge of this country. The guy was an economist for Shell. The guy has a staggeringly poor knowledge of financial markets.

 

That is worrying. That is really worrying.

 

As you say the numbers getting thrown about these days are staggering.

 

And it's almost all down to over inflated property prices. How sad and completely unnecessary.

[david mcgee]

What !! You mean Salmond and his "Spivs and speculators" bleating was complete nonsense !!

 

The guy is in charge of this country. The guy was an economist for Shell. The guy has a staggeringly poor knowledge of financial markets.

 

That is worrying. That is really worrying.

 

As you say the numbers getting thrown about these days are staggering.

 

And it's almost all down to over inflated property prices. How sad and completely unnecessary.

 

RBS is currently off by about 18%, and not a short seller in sight!

[coppercrutch]

RBS is currently off by about 18%, and not a short seller in sight!

 

But it's all the fault of the spivs I tell ye !!

[jambos are go!]

The only good thing out of this is the highly paid free market risktakers are exposed as subsidy junkies who play fast and loose with other folks money with the taxpayer as their isurance policy. New regulation must ensure folks money is 100% save from these bloodsuckers. There are folk on not much more than minimum wage who will have to pay income taxes to sort this out. We all pay indirect taxes to help sort it. Truly the unacceptable face of capitalism.

[coppercrutch]

The only good thing out of this is the highly paid free market risktakers are exposed as subsidy junkies who play fast and loose with other folks money with the taxpayer as their isurance policy. New regulation must ensure folks money is 100% save from these bloodsuckers. There are folk on not much more than minimum wage who will have to pay income taxes to sort this out. We all pay indirect taxes to help sort it. Truly the unacceptable face of capitalism.

 

Problem being this is all getting a little too much for new 'regulations' to sort out.

 

We are very close to the point where the entire system completely collapses. If it has not already.

 

Your money becoming worthless. Mass unrest. Banks shutting their front doors. ATM's all being empty.

 

I am not going over the top here. This is very real. Very scary. I hope it doesn't go that far but it is looking worse every day.

 

Compelte Systemic failure is close. Not a pleasant thought

 

But don't worry we have the Governemnts and the bankers working on a rescue?.

 

Actually that makes it all seem a lot worse.

[footieman]

Do we think the Lloyds HBOS takeover will still go ahead, or will the current climate maybe force Lloyds to reconsider?

[david mcgee]

Do we think the Lloyds HBOS takeover will still go ahead, or will the current climate maybe force Lloyds to reconsider?

 

I think this is a done deal, whether the new enlarged bank can make it through this crisis is anyones guess. It could yet be nationalised.

[billco98]

Fortis the largest Belgian bank is in severe danger of being the next European casualty.

If you havent heard of them, they are one of three financial organisations who bought ABN Amro, RBS was one of the others.

They hold 1/3rd of the UKs Car insurance policys under various names so you could be a customer of theirs without even knowing it.

 

Gordon Brown's fault again I suppose?

[bigwull22]

its the end of the world as we know it, the yanks have voted against the bailout

[david mcgee]

its the end of the world as we know it, the yanks have voted against the bailout

 

Dow will go into meltdown!

[bigwull22]

Republicans voted against because the deal smelled of socialism, typical yanks, anything but socialism, health services etc, a despicable country, China should call in its loans

[coppercrutch]

I think they are just acting in the interests of their people. It will go through but it will have many more caveats attached that mean the public have a better chance of getting their money back.

 

I actually am quite impressed by a few of the US politicians today. Yes maybe they are just saying the right things. At least they are doing that.

[david mcgee]

I dont Adam and Eve it to be honest.

Complete carnage, im embarrased watching it.

How do the Taliban run things?

[BlackJAC?]

I think they are just acting in the interests of their people

 

And so they should. Privatising profits and nationalising debts is despicable and it's time the UK government stopped bailing out UK banks.