Northern Rock Shares Collapse
Although 1/4 million pounds is one hell of a large punt 
That took ***** of titanium, not just steel!
11 October 2007, 09:10 PM
#215
Scooby Regular
Join Date: Aug 2004
Location: god's own county
Posts: 624
Likes: 0
Received 0 Likes
on
0 Posts
11 October 2007, 09:45 PM
#216
Scooby Regular
Join Date: Jun 2005
Location: Home
Posts: 14,758
Likes: 0
Received 0 Likes
on
0 Posts
11 October 2007, 09:48 PM
#217
/ 
15 October 2007, 11:39 AM
#218
Scooby Regular
Join Date: Dec 2004
Posts: 2,490
Likes: 0
Received 0 Likes
on
0 Posts
15 October 2007, 11:53 AM
#219
Scooby Regular
Join Date: Mar 2000
Location: Weston Super Mare, Somerset.
Posts: 14,102
Likes: 0
Received 0 Likes
on
0 Posts
Private Equity Investor phone call to No 10
"Hi - Richard here. I think I can help get you out of this Northern Rock farce. We'll put a bid in offering 5p per share but big it up for the gov't in acting promptly blah blah. We'll make a big thing of keeping jobs in the North and all that BS. We'll say you insisted.
Just one thing - could you have a word on the QT and ask Mervyn to write off the few billion he dished out. I am sure we can sort it for you".
Response from No 10. "Well er umm er. Yes."
dl
"Hi - Richard here. I think I can help get you out of this Northern Rock farce. We'll put a bid in offering 5p per share but big it up for the gov't in acting promptly blah blah. We'll make a big thing of keeping jobs in the North and all that BS. We'll say you insisted.
Just one thing - could you have a word on the QT and ask Mervyn to write off the few billion he dished out. I am sure we can sort it for you".
Response from No 10. "Well er umm er. Yes."
dl
19 November 2007, 10:06 AM
#223
Scooby Regular
Join Date: Nov 2007
Posts: 83
Likes: 0
Received 0 Likes
on
0 Posts
Bet there's quite a few people wishing they hadn't tried to make a fast buck when the shares first slid in October. 
Worst thing is, it looks like the taxpayer is going to be seriously out of pocket if/when NR goes under.
Worst thing is, it looks like the taxpayer is going to be seriously out of pocket if/when NR goes under.
19 November 2007, 11:06 AM
#224
Scooby Regular
Join Date: Dec 2004
Posts: 2,490
Likes: 0
Received 0 Likes
on
0 Posts
Looks like the government will bend over as far as they possibly canto help.Which really flipping annoys me.Banks who have made billions getting bloomin help from the government.Clearly they (gvt)are desperate not to get a right kicking in the nuts and an economy collapse.
It stinks
19 November 2007, 11:30 AM
#225
Scooby Regular
Join Date: Mar 2000
Location: Weston Super Mare, Somerset.
Posts: 14,102
Likes: 0
Received 0 Likes
on
0 Posts
If you have nothing better to do it's quite fun going back through this thread and looking out for the "NR will be fine - shares will bounce back - good time to buy" posts from SN's resident financial experts 
19 November 2007, 11:39 AM
#226
Scooby Regular
Join Date: Jan 2001
Posts: 9,781
Likes: 0
Received 0 Likes
on
0 Posts
20 November 2007, 12:57 PM
#231
Scooby Regular
Join Date: Sep 2003
Location: Scoobynet
Posts: 5,387
Likes: 0
Received 0 Likes
on
0 Posts
Which of the big lenders will be next, Bradford & Bingley or A&L?
My money is on B&B! I've already removed most of my cash from my accounts with them - only a couple of k remaining!
NS&I is clearly seen as the safest bank right now, but its now taking weeks to get accounts opened with them!
My money is on B&B! I've already removed most of my cash from my accounts with them - only a couple of k remaining!
NS&I is clearly seen as the safest bank right now, but its now taking weeks to get accounts opened with them!
20 November 2007, 01:43 PM
#233
Scooby Regular
Got my fingers burned with these shares 
Paragon look in an awful mess ... they lend on Buy-To-Lets.
There are going to be a flood of Buy-to-Lets hitting the markets in January - further depressing the Housing Market.
Paragon look in an awful mess ... they lend on Buy-To-Lets.
There are going to be a flood of Buy-to-Lets hitting the markets in January - further depressing the Housing Market.
20 November 2007, 01:54 PM
#234
Scooby Regular
Join Date: Nov 2000
Posts: 26,619
Likes: 0
Received 0 Likes
on
0 Posts
I wouldn't be so sure about this. New rules for CGT kick in in April, so wiser investors should hang on. Base rate will possibly be back to 5.25% by then, so they wont be feeling the same pain.
If Northern Rock go under, Paragon will more than likely follow them within days. At the minute no-one really knows all the options for Northern Rock, but if these options are clarified (regarding state assistance and EU competition laws) and NR go under, Paragon will have no other place to go. They have no customer deposits at all. B&B and A&L have some customer deposits which at least allows them some breathing space. If we do lose a couple of lenders in the next month or two, the impetus will be on the MPC to stop the rot, so they will have to drop the base rate further and more quickly than the three cuts currently forecast for next year.
B2Z - If shares hit 1p you wil probably be able to but the entire company for a grand
20 November 2007, 02:06 PM
#235
Scooby Regular
Join Date: Jan 1999
Posts: 709
Likes: 0
Received 0 Likes
on
0 Posts
"I wouldn't be so sure about this. New rules for CGT kick in in April, so wiser investors should hang on. Base rate will possibly be back to 5.25% by then, so they wont be feeling the same pain."
The problem is you have to service the debt until then. And you have to have a potential gain before you worry about CGT.
"If we do lose a couple of lenders in the next month or two, the impetus will be on the MPC to stop the rot, so they will have to drop the base rate further and more quickly than the three cuts currently forecast for next year."
The problem with the property market isn't the only consideration here is it? Lowering interest rates will have an adverse effect on the exchange rate, and inflation may rise.
The problem is you have to service the debt until then. And you have to have a potential gain before you worry about CGT.
"If we do lose a couple of lenders in the next month or two, the impetus will be on the MPC to stop the rot, so they will have to drop the base rate further and more quickly than the three cuts currently forecast for next year."
The problem with the property market isn't the only consideration here is it? Lowering interest rates will have an adverse effect on the exchange rate, and inflation may rise.
26 November 2007, 02:00 PM
#239
Scooby Regular
Join Date: Dec 2004
Posts: 2,490
Likes: 0
Received 0 Likes
on
0 Posts
Love the press.The biased and unbiased when they say things like
'Rock shares soar' and 'Shares rocket 40%' or whatever they have done.
Errr......they were £12.00 and people are wetting themselves when they 'rocket' from 80p to £1.10. Wow
'Rock shares soar' and 'Shares rocket 40%' or whatever they have done.
Errr......they were £12.00 and people are wetting themselves when they 'rocket' from 80p to £1.10. Wow
26 November 2007, 03:18 PM
#240
Scooby Regular
Join Date: May 2004
Location: Ascended to the next level
Posts: 7,498
Likes: 0
Received 0 Likes
on
0 Posts
Which of the big lenders will be next, Bradford & Bingley or A&L?
My money is on B&B! I've already removed most of my cash from my accounts with them - only a couple of k remaining!
NS&I is clearly seen as the safest bank right now, but its now taking weeks to get accounts opened with them!
My money is on B&B! I've already removed most of my cash from my accounts with them - only a couple of k remaining!
NS&I is clearly seen as the safest bank right now, but its now taking weeks to get accounts opened with them!
Basically any CC co/lender/bank/building soc that is linked with the US financial sector is going to have problems.
I've been advised by my FA that my liquid "short term" assets should be spread about as much as possible and not to use anyone with heavy reliance on the USA's banking industry. As in the next few years things will be getting a little rough.
But as mentioned: A&L is looking unsteady, amongst some of the other small fry.
Interesting to note, the two banks/building socs that gave some of the highest (plublicised) interest rates on savings are now the ones that are now being iffy (B&B and A&L )....Maybe the adverts of high interest rates on saving accounts is a warning sign of financial desperation?
The big British banks are generally ok, but I'd be wary on Barclays - They are no good for loans or investment anyway, but of the big banks, they are the ones to be keep an eye on.
Last edited by Shark Man; 26 November 2007 at 03:27 PM.