Northern Rock Share Discussion Threads

[cpl593h] 11/1/2009 00:40

The only theft was the ponzi scheme being run by the company YOU chose to invest in and which YOU chose to stay invested in.

Be a man - take your medecine, learn, and move on. The only mistake was made by YOU.

Britain 2009 - Bailout nation.

[bryan2] 10/1/2009 14:46

cpl593h

......back by screwing future generations

Anne Godbehere appointed by HMG to screw Northern Rock walks off with One Million Pounds with no tax to pay as she is a non dom.
Unlike Anne Godbehere and the other scum that surround New Labour I pay my taxes for this and future generations.
I don't know what kind of prat you are but I for one will go out of my way to stop theft of private property.

[cpl593h] 09/1/2009 22:52

Mrs bryan2: "brian, I accidently opened your brokerage statement today, where's all our money gone?"

brian: "it,it,it, wasn't my fault, yes I know I should have sold but I kept thinking things would be alright, just like they always are, I mean assets CAN only go up - that's the entire zeitgeist of our generation - but don't worry, I'm trying to get it back by screwing future generations so that we don't have to face up to our mistakes"

Britain 2009 - BAILOUT NATION

[dairyhick] 09/1/2009 17:58

nrk shareholders are a bunch off uckin' whingeing loooosers, anasserfact.

[dairyhick] 09/1/2009 17:57

nrk shareholders are a bunch off uckin' whingeing loooosers, anasserfact.

[bryan2] 09/1/2009 08:17

Total Confusion at the BoE

On Channel 4 news last night De Anne Julius founder member of MPC pointed out the stupidity of the BoE charging the British Banks 12% dividend on the prefs "help" (paid out of taxed profits-equivalent to 16.7% return on assets to fund it) and then expecting the Banks to lend at 3%.
The BoE "help" to banks has severe penal rates the no other country is imposing on their Banks in this time of crisis.
John McFall MP agreed, but said the proposed "Help the Banks" package was a rushed through deal.
The abject stupidity of the BoE is at the heart of the near collapse of the British Banking System.
The BoE have now admitted that they had no idea of the severity of the credit freeze up.

[bryan2] 08/1/2009 14:06

cpl593h

So in fact you say that no British Bank has a good model!
Perhaps a more believable narrative is about the disastrous contradictory policies pursued by the BoE.
Their abject stupidity is at the heart of the near collapse of the British Banking System.
The BoE have now admitted that they had no idea of the severity of the credit freeze up.
Yet only the nations central bank has the capacity to tackle a generalised liquidity crisis.
Its now quite clear that the BoE had never Stress Tested itself with the scenario of a generalised liquidity freeze up.
The buffoons at the BoE have changed grudgingly policy after policy until nearly 18 months into the liquidity crisis they admit that they got it all wrong.

[cpl593h] 08/1/2009 11:11

You want my rationale? I don't like leeches who screw-up then bleat forever about how it's all someone else's fault.

Across the bank complex, you're in good company.

And no, the fractional reserve system of banking is broken - I think it's important for people to appreciate that thinking otherwise is akin to picking up pennies in front of a steamroller.

[bryan2] 08/1/2009 08:10

cpl593h

Since you have only recently posted on this thread I must assume that you hold no positions long, short or shares in Northern Rock.
Why someone goes to a thread just to waste other peoples time is hard for a rational person to work out.
Perhaps you could point to a British Bank with a good business model.

[cpl593h] 08/1/2009 00:00

This thread is too funny - like discussing whether the sun will rise tomorrow.

Shareholders did their dough because they refused to accept the share price was falling due to a failed business model which NO ONE forced NRK to adopt - greed end of.

Bah ....bailout nation.

[greycioud] 07/1/2009 16:46

Dan

What are you on?? Totally clueless!! Can you get owt right??

[lyntwyn] 07/1/2009 08:56

All eyes on Northern Rock as investors go to court

[scribbler101] 06/1/2009 17:06

Hence Dairyhick feeling at home here?

[diydan] 05/1/2009 15:43

bryan2
I agree that we were led into a lot of this mess but I am not sure who by? Yes Mervyn King had a major part in it all without dought and must carry a lot of the blame. But I also think the leaks had a lot to do with Alistair Darling. We then went into several months of all parties Lib Tory and Labour worrying more about their own seats than UK plc and joe Public. Something they should all be ashamed of. Now I can see that the Libs and Tories can now just say they did not know all the facts when NR were nationalised and use the information from the court case to attack Labour. Lets hope some of them have the courage to stand up and say so?

[bryan2] 05/1/2009 15:06

DIYDAN

I agree with your point about NRK being compelled to act within the regulated Banking framework.
Instead of shutting off lending and building up cash reserves and working solely in the interests of the shareholders they acted in a socially directed way.
That's all very well but when interbank lending stopped and the BoE did nothing it left Northern Rock out in the cold.
Mervyn Kings policy is now exactly opposite to the policy of Aug 2007.
It is to Britain's misfortune that the BoE was led into the banking crisis by a short sighted mentally ossified ideologue.

[diydan] 05/1/2009 13:22

bryan2
Vince is one of those I would love to see under oath in court. Where he would have to justify some of his contradictory and inflamitory remarks he made about NR in the media and on TV.

To pick up your point about what would have happened if NR had stopped lending in Aug 07. I hope that those in charge at the bank at that time will be called to say what discussions took place between BOE HMG and NR at that time. Given NR new it would need about £30B remember there were talks between all parties and Lloyds and HMG refused to back the deal.

The best action the then management of NR could have done to save the bank was to shut off lending and bring in as much funds as possible through better savings rates and calling in loans. The damage to UK plc would have been great but the bank would have survived., I suspect the then management were told not to do that and BOE would support the bank. We will have to wait one more week now though to find out?

[diydan] 05/1/2009 12:59

GreycIoud
I have more trust in the UK legal system than you obviously do, We then also have the european courts who I am sure will look on the case far more fairly given the way european banks have been treated by thier governments.

Try to forget your personal feelings for NR and look at the evidence.

1 NR broke no UK or European banking rules.
2 BOE failed to carry out its role as lender of last resort.
3 HMG and BOE have put Billions into UK banks since NR were nationalised
4 The treatment of BB with regard to compo is not the same as NR
5 HMG made it public that they want the valuer to come up with a zero value for NR, This maybe thier wish but the courts will view this way of valueing NR as unfair.
6 We have all the "leaks" or briefings? Depending on your view most of which broke stock market rules by releasing important information to the press before it was made public in the correct way.
7 NR have paid bank most of the money it got from BOE and are now one of the best financed banks in the UK.
8 We have to see who is called in front of the judge under oath?

I could go on but not sure there is much point now as we will see all this in the press next week.

[bryan2] 05/1/2009 12:38

Vince Cable MP (of the 100B£ black hole fame) now has a new policy.
Northern Rock he says should not pay back to the Government at the present rate!
I wonder what would have happened if Northern Rock had simply stopped lending back in in Aug 2007.
Mortgagees, remortgaging out of Northern Rock would have increasesed NRKs cash reserves.
There would have been no run on the Bank.
This after all is what the Nationalised NRK is doing.
The Government policy is of course exactly the opposite for the other Banks.
They are being told to lend at 2007 levels.
Is it too much to hope that some TV programme will run video snips of Vince Cable MP showing his rapid contradictory policy changes on the same topic?

[greycioud] 05/1/2009 09:26

Dan

Wrong as ever!! Give yer brain a rest & sit down!

[cpl593h] 04/1/2009 17:47

bwaaagh - gimme a bailout, snot fair to lose on investments.

[diydan] 04/1/2009 13:42

reories and remember when news of NR issue broke 07 it was just before the election that never was and all parties then jumped on the issue for a bit of bank bashing that joe public likes. We now have a week to go till the court case. We also have HMG positioning itself for a june election. However this time I think the other parties will be out to show where HMG went wrong rather than bashing the banks. So I can see tories and libs doing a bit of digging and producing some supporty for comp claims? But lets see.

[greycioud] 02/1/2009 13:30

Bryan

Give your *rse a rest you talk too much!!