Northern Rock Share Discussion Threads

[diydan] 07/10/2008 12:06

GreycIoud
Just get ready to put your hand in your pocket come the court case....
Are you going to say which UK bank has a good business plan yet? I take it that will be a no..

[greycioud] 07/10/2008 10:33

Jealous or what muppet?

[diydan] 07/10/2008 10:08

It now looks like HMG going to take a stake in whats left of UK banks. Where are all the demands from Cable, Peston etc and all the nuts on here that the business plans are flawed and the banks should be left to sink?

It is odd that the banks that have so far been wiped out are the mortgage banks who simply lent the money for people to buy houses and helped to finance the economy through providing loans to joe public.

The ones that are left are the speculator banks like Barc and RBS who traded all the dodgy debt. How much did these banks have to right off? And more to come?

[bryan2] 07/10/2008 08:43

Turning a problem into a crisis!

Yesterday Alistair Darling said that NRK had repaid over half the BoE loan.
This was well ahead of schedule.
Given that NRK has also had to pay for unasked for advice from Citybank and Goldman Sachs(you have to laugh) and penal interest charge from BoE then there was not much wrong with NRK at the start.
Where is Vince Cables 100B£ black hole?
Germany's HYPO bank seems to be a similar case.
There has been no property bubble in Germany yet HYPO was in a fix because of liquidity problems.
Like NRK, HYPO was brought to a standstill not because of defaulting mortgagees but because Banks are refusing to lend to one another.
It will be interesting to see how the shareholders of HYPO fare compared to the shareholders of Northern Rock.

[scribbler101] 06/10/2008 23:50

The Chancellor told MPs: "I've made it clear that we will do whatever is necessary to maintain stability.

Well, short of resigning or holding an election, obviously.


PS Isn't it non-pc for mandy to talk of him and GB being conjoined twins?

Anyway, most labour people know where he fits into the cabinet woodpile.

[scribbler101] 06/10/2008 23:48

Today's best performer on my portfolio.

[la vallette] 06/10/2008 16:58

The German Finance Ministry has said it will not be providing a blanket guarantee for savings in the country's banks.

Alistair Darling

The Chancellor addresses MPs for the first time since the summer break

The announcement came after Alistair Darling confirmed the Government is to plough another £40bn into the money markets to help maintain confidence.

He also revealed nationalised bank Northern Rock has now paid back more than half the £26.5bn of taxpayers' money that was lent to it.

The Chancellor told MPs: "I've made it clear that we will do whatever is necessary to maintain stability.

"It's essential that we take action to both support the banking system as a whole - as well as being ready to intervene in particular cases when it's necessary to do so."




Taken from SKY news....half paid back tax payers money!!!

Never held but had an account once---That geordie Apple what's his name has a lot to answer for

[hvs] 06/10/2008 12:49

Good for you.

Dont think any ot these high flying lawyers, accoutants or CITY Wizz kids pay
any either.

They make the laws and make sure the rest COUGH UP.

[exile] 06/10/2008 12:46

Glad I am no longer a UK taxpayer.

[hvs] 06/10/2008 12:40

More taxpayers money down the DRAIN

[greycioud] 06/10/2008 09:40

Vince Cable = UK's only living brain transplant donor.

[poppadomonlinedotcom] 06/10/2008 07:52

3% by summer 2009

found1.com

[bryan2] 06/10/2008 07:50

Vince Cable MP turns on Mervyn King!

What goes around comes around the old saying goes.
Vince on TV last night said the Chancellor should overrule Mervyn King and impose a significant cut in the UK base rate.
I notice prat and superprat are reduced to writing code in letters to keep their spirits up!

[greycioud] 04/10/2008 13:41

zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz

[greycioud] 04/10/2008 13:39

zzzzzzzzzzzzzzzzzzzz

[bryan2] 03/10/2008 16:21

Mervyn King has had an Epiphany.

Today Mervyn King promised to do all in his power to provide liquidity to the British Banks.
Less than a year has passed since Mervyn declined to offer such help to Northern Rock.
With the events of the last few months its crystal clear that no British bank would have survived had his original policy been still in place.

[miata] 03/10/2008 07:05

Northern Rock may have to close its doors to new savers within days after a recent surge of deposits put it close to breaking competition rules imposed after its nationalisation in February.

A rush of people seeking safe places to put their savings means that Northern Rock is in danger of exceeding a commitment to take only a 1.5 per cent share of total UK retail deposits. Worried savers have been pouring money into Rock, nationalised in February just months after the first run on a British bank since the 19th century. They have been attracted by a cast-iron government guarantee on its deposits introduced last year and designed to stem panic withdrawals.

[bryan2] 02/10/2008 16:12

Todays Developments.

The fact that a deposit in NRK is in effect the safest deposit in Europe(Gilt Edged) has raised justifiable complains from British and European Banks.
The Irish Government has in response guaranteed all deposits in its Banks.
The beggar my neighbour situation has caused several serious anomalies in European Banking.
It was one of the reasons that I thought HMG would not Nationalise NRK.
I underestimated the stupidity of HMG however the anomaly will not endear the HMG case when heard in Europe with Judges from the other European countries.
Today I watched the Head of the ECB(Trichet) say that Europe should not allow a SOLVENT bank to go under because of LIQUIDY problems.
He called on the Heads of the European Governments to accept their responsibilities.
The language has changed completely from that used in Oct 2007.
The fact that many people on this postboard predicted exactly the sequence of unfolding events does not make us any happier.
The reluctance of the BoE to feel that it should help the British Banks is there for all to see.
Too little, too late.
But evidence for the compensation claim is all around us.

[citycanary] 02/10/2008 09:49

60-65% of the RI. Thus approx 33-35p. Payable Q1/09.

[coogar] 01/10/2008 16:00

An open question to all muppets:-

How much compensation do you think the oridnary shareholders of Bradford & Bingley will be entitled to / receive?

[diydan] 01/10/2008 15:42

Well worth a read.
A lot about the US but some important points about how the problems must be fixed regarding shareholders. Basic problem is that press headlines of "Bashing the bankers" is nice for joe public to read but it does not solve the problem and nationalisiing the banks such as NRK and BB does not help if it wipes out the shareholders it simply forces them to pull funds out of all banking stocks. This is not just small holders but the big institutions who invest pension funds etc. They are saying why should I take up a rights issue when I could lose everything. Hense the circle tightens.

'Punish greedy bankers' is not a rescue plan
Vindictive measures will not solve the financial crisis, but helping out bank shareholders could stave off depression