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http://business.timesonline.co.uk/to...cle4837596.ece
But odds are its going to be nationalisation because the president has been set.Quote:
Bradford & Bingley will almost certainly be taken over by Spain’s Santander or nationalised
Now this is most annoying, I've just lost £20, i thought it was going to be Yorkshire building society in our little sweepstake.
I just heard on the news this evening that the government is going to nationalise it like they did with Northern Rock.
wtf...?
Another football team to be sponsored by the government ;) ?Quote:
Originally Posted by G4Z
Anyone dosen't think we're in a recession and heading for a depression?
Time to buy gold.
No, the time to buy gold was when that imbecile Brown forced the price right down and sold it all off
Dig deep again Tax Payers!!
platinum actually :)Quote:
Originally Posted by TeePee
my m8 has sold all his excess gold and invested the money in platinum
what really tickled my funny bone was Alister Darling saying the other day that the price of oil has reached its natural limit, and its going to become cheaper, inflation is undercontrol.
Less than 24 hours later the single biggest jump in the price of Sweet Crude Light EVER seen happened.
Amazing prediction abilities.
And this is the man in charge of our economy.
Scary, isn't it?
Oh god we're turning into America :(
THE END IS NIGH!!!
It's not just us look at rest of the europeQuote:
Originally Posted by chuckskull
whats interesting is look at the likes of Deutsch Bank.
DBK have a massivally leveraged posistion, i've heard figures putting it at around 2 TRILLION Euros.
Imagine if they have to be bailed out, i doubt it could be afforded.
I was just thinking about this at the last 6Music new bulletin.
What is happening in other countries? There is loads of media coverage of here and the US, but what about the rest of Europe and other markets? Canada too?
Of course I'm not saying that the media are hyping all this fear and trying to make the goverment look bad, but, well...
http://media.fukung.net/images/9499/...ac3c11182c.jpg
Blatantly stolen from the internet.
EDIT: Damn wrong OGC :( Curse you internet.
Actually that logo was for a government department. :D
Ah they must of changed it. Which of course means I don't fail. :rockon2:Quote:
Originally Posted by Powderhound
Any inside information to base this on?Quote:
Originally Posted by TheAnimus
well that's just a silly question to ask.
Also worth re-iterating I'm no market analysist.
lol, in my best J. Paxman voice 'So that's not a no then?'Quote:
Originally Posted by TheAnimus
I was just wondering if you has based this on anything?
Food for though in August 2006 the YBS offered me a mortgage of up to 4.5x my base pay (3.5 of my pay including overtime)
The banks are falling like flies at the moment, but do the the building societies have a different set of rules to work to? Would this make them, any less, likely to have their fingers in the wrong financial pies than a bank?
Such information would constitute market abuse, which is a bad thing.
those who are falling the most are those who where most dependant on the international money lending market.
if you look at LIBOR (the London InterBank Offer Rate, the intrest at which banks can lend to other financial instutions) its at a high. So those that are most dependant on re-financing their book, that is to say they have lent mortgages which they can't back up themselfs, are the most likely to get humped.
B&B savings have been sold to Santander.
Mortgage operations have been nationalised.. but with a twist - the tax payer isn't really paying for it.
Loses are first covered by the shareholders. If that doesn't cover it, then the banking industry pays the next £15bn. And finally if that doesn't cover it then the tax payer pays.
Though the banking industry would be given a loan to help tide them through, the tax payer would get a fair amount of interest on it.
Was interesting to hear both Darling and Osbourne pretty much in agreement on the radio this morning.
Nice to see that our financial sector is taking this seriously, although I suppose it won't affect you lot all that much. City bonuses will still get paid I guess.Quote:
Originally Posted by TheAnimus
Just a note: never follow me on share buying.
A few weeks ago my pot of HBOS shares went belly up, and my other holding? Yes you've guessed it, B&B. Grrrr.
Actually its more gallows humour, these sort of things have a massive effect on what we do, and generate massive amounts of work for us to not be effected.Quote:
Originally Posted by Betty_Swallocks
Well if you thought European Markets was bad today, then this US shift im covering tonight is looking even worse now after this news.....
http://uk.reuters.com/article/usMktR...39252120080929
Back to the drawing board after this vote then!Quote:
U.S. stocks plunged on Monday, pushing the Nasdaq down more than 7 percent at one point, after the U.S. House of Representatives rejected a proposed $700 billion plan to stabilize the U.S. financial sector and repair the credit crisis.