Northern Rock Share Discussion Threads

[bobobob5] 05/9/2008 12:07

And also the ugliest PM ever? Well, think about the list of PMs over the past 50 years:

Supermac: country gentleman
Sir Alec: Scottish laird
Wilson: an earnest type
The Grocer: City banker type
Calorgas: avuncular
Maggie: attractive
Major: bank manager type
Blair: appealed to the ladies

And then we come to Brown!

[greycioud] 05/9/2008 11:21

Brown will go down in history as the only unelected PM who never contested a General Election. Labour will dump him and the Country will then dump Labour!!

[greycioud] 05/9/2008 11:13

Yes Brown is a a big fat bumbling moronic oaf.

[greycioud] 05/9/2008 09:52

When will you numpties learn. NRK was a cowboy outfit compared to the banks.

[scribbler101] 05/9/2008 09:38

Perhaps he could follow his predecessor's footsteps?

I really don't think you can blame Darling for anything yet. GB got us where we are, and is still the boss.

[bryan2] 05/9/2008 07:30

ECB Lending.

Banks tapping the European Central Bank to deal with short-term liquidity problems will have to stump up more collateral in future, the ECB ruled yesterday. The ECB has responded to growing concern that its highly popular lending window was being misused. Banks have borrowed about €467bn from the ECB with eligible British banks thought to have been big borrowers, the Times reports.
ECB reserves contained 4% mortgage backed debt in 2004.
ECB reserves contained 18% mortgage backed debt in 2008.
It appears that the only Bank in Europe frozen out from this support was Northern Rock.
Considering that NRKs liquidity problem was made critical by ham fisted statements and leaks from the BoE and the Treasury the British authorities should hang their heads in shame.

[greycioud] 04/9/2008 16:07

The muppets made a duff investment & anyone except the muppets can see that. No compo for muppets!!!!!!!!!!

[diydan] 04/9/2008 15:10

coogar
Half of that money was needed to replace the deposits taken out of the bank due to the leak/private briefing with Mr Peston (Honourable?) which named NR as getting funding from BOE. Anyone can see that HMG were directly resonsible for that.

Given that if the bank had not been named that £12B would not have been needed, therefore NR would have needed at most another £12B using your figures. We know for a fact that up to the end of June NR had paid back £9.5B so the most that they would now owe would have been £2.5B.

Even assuming they have repaid no more funds to BOE in last 2 months? I would suggest that there will be a lot of UK banks who owe the BOE a lot more than NR owe if the UBS figures are correct and the BOE has funded UK banking to the tune of £200B

[coogar] 04/9/2008 13:47

bryanmuppet, you say that the BoE refused to provide liquidity to NRK - what was the £24bn of taxpayers' money then, muppet?

[bryan2] 04/9/2008 13:38

How to make Northern Rock look unprofitable!

The Government will Load up NRK with as much debt as they can get away with and then blame Northern Rock.
Jim Cousins, M.P. for Newcastle Central, has criticised the Tripartite Authorities for imposing demands of £23m on Northern Rock . "I am writing to the Chancellor about these fees because I want these fees cancelled and the money handed back to Northern Rock". In his view it is totally unreasonable to charge the company for the advice that was obtained by the FSA and other parts of the Government because this was advice that they required and it was not advice to the company. The company had no control over that expenditure and there is no indication that they agreed to pay those fees at the time.

[greycioud] 04/9/2008 10:28

What & miss all the fun??

[galleon] 04/9/2008 08:44

..perhaps you could "move on" Greycloud - and make everyone happier?......ah well, please yourself.lol

[greycioud] 03/9/2008 17:06

But its still no compo for muppets. You made your investment choice & got it horribly wrong. So grow up & accept what idiots you are & move on.

[bryan2] 03/9/2008 16:57

DIYDAN
I think the RBS comments might be influenced by their 12B£ rights issue and their continued inability to sell their insurance arm to pay for their ill timed purchase of ABN-Ambro.
Barclays on the other hand seem to be able to strengthen their balance sheet by recourse to sovereign funds and the like.

Back to the Nationalisation of NRK.
Every day that passes comes more confirmation that the BoE policy(Aug 2007) towards NRK was a disaster and led directly to the run on the bank.
The policy was changed abruptly(March 2008) when all the other British Banks appeared to have the same problems or worse.
Common sense would lead any unbiased person to conclude that compensation and an apology is due to the shareholders of NRK.
I doubt if the apology will be forthcoming as the reputations of politicians and BoE is on the line.
However compensation will be forced out of them.
I am in no hurry, as we have seen, time is on our side as more and evidence comes to light almost daily.

[diydan] 03/9/2008 15:27

I think you will soon see Darling looking for a new house.. He has been a disaster since day he arrived at number 11

[diydan] 03/9/2008 15:12

bryan2
Do not forget that all these loans are now in secret. Yet at the time HMG decided to name NR. Good job these are all well run banks with solid business plans who are getting the funds as some on here will hope, then again who knows as they not named...

[diydan] 03/9/2008 15:03

MIATA - 28 Aug'08 - 12:18 - 13803 of 13810

Could you say what date this was published please and add a link.
Thanks

[bryan2] 03/9/2008 07:16

Troubled lenders in the UK may have tapped the Bank of England's emergency funding scheme for as much as £200bn, according to investment bank UBS - double the most aggressive estimates. Alastair Ryan, UBS banks analyst, has calculated that "the take-up could be £200bn or more," reports the Telegraph.
The injection of liquidity into the British Banks is exactly what BoE ruled out for Northern Rock and precipitated the run on the Bank.
The new BoE policy is an implicit admission that the treatment meted out to Northern Rock (in Oct 2007) was stupid and disastrous for the British Banking system.

[greycioud] 01/9/2008 15:47

Recognising muppets was easy to anticipate.

[bryan2] 31/8/2008 19:40

Darlings latest comments will no doubt be studied by the NRK shareholders lawyers.
The global credit crunch he says was "unique" and "unprecedented".
Yet the Government says that Northern Rock should have anticipated them.
How you can plan for " "unique" and "unprecedented" events I would not know.
But causing a run on a solvent bank by ham fisted statements and leaks could easily have been anticipated.