Where is Buggins Mc Bottler anyway? Hasn't been seen once since all this started.

Too busy sacking his minions I suppose.

 

5002 was the lowest .... close enough!

Steve

 

If AIG goes tonight, 5,000 will be a distant dream. We've already breached it today.

I think the current situation will make the chance of recession much more likely. There will be no big bonuses in the City this year or next, and that's a big hole in the economy to fill. And for anybody caught in a house they cannot now finance, it couldn't have happened at a worse time of course. The consequences could be far-reaching.

 

Well it had to happen sometime. If you can't afford something, kidding yourself that you can is going to hurt you one day.

I'm just glad that the wife and I have just re-mortgaged at a rate that we can easily afford. And we only bought our first propery together 2 years ago. We don't plan to move anytime in the next 3-5 years, I work in the marine and industrial transmission sales industry and our forecast is actually quite promising. The wife works for a car insurance company and can't see that being effected too much, but you never know.

Yes, we could have gone out and bought a bigger place and we probably would have been just about able to still afford it. But I don't want to go to sleep every night worrying about the piggy bank. Life is too short to worry about what possessions you have.

 

Still in rented, whopping deposit ready and waiting, no outstanding credit....life's good.

 

It depends what part of the city you work in. My Brother-in-law works in foreign exchange in the city as a broker and it making an absolute fortune.

Steve

 

500K UK jobs to go by next year apparently. Doesn't look particularly good for the good ship USofGB.

 

Good thinking.

Les

 

One of my pensions lost 3 grand last year - I dread to think when my statements are going to be this year

 

If I had to be honest I'd say I haven't felt very good about the UK economy for the past 4 or 5 years, at least. Anyone who has made a huge financial mistake with mortgages during this time, imo has had their head stuck in the sand.

 

Steve, with respect, i challenge this, depending what your definition of "absolute fortune" is of course. Do you mean a broker like Tradtition, ICAP, GFI? If you do and he really is raking it in, good luck to him. But i'll be amazed if his commissions are as high as they were say six months ago, even before the recent round of carnage.

 

I think that means sill getting paid next week

 

Barclays buys Lehmans (well, the broker business anyways) and the Fed bails out AIG, we're all saved from financial meltdown, hoorah! worry over........

 

Will it be wrong for them to continue sponsoring Man U?

And what the heck is going on with HBOS.Even I can afford a few of those shares at £1.13.Why do they keep getting it in the neck?

 

Lloyds bank buying HBOS.

Breaking business news.

 

What would happen in principle to people who have savings with one of HBOS brand banks should they go under?

 

HBOS would not be allowed to go under - The Government/BoE would step in long before it got to that stage.

You savings with HBOS are about as safe as safe can be.

 

Merging, not buying.

 

Thankfully I'm proper skint and don't have to worry about losing it all.

 

Will our Banking system end up like oneof those Russian dolls? All part of the same group??

TBH I really can't believe these big entities are having to merge.

Mind you,the HBOS spokesman reminded me of those football managers who say "We can categorically state we are not buying Pele" then do it the next day

 

 

It's a bit worrying that the UK banking system, already starved of competition, is going to be further restricted if this merger goes through. But i don't think the authorities are focusing on that aspect yet - survival is the name of the game at the moment.

 

Got to feel sorry for all those opportunists who've tried to short HBOS shares

 

Feel sorry in what way? I'd love to be short HBOS shares at their 3 month average of £2.86 right now

 

Pete, when I heard this on BBC it was reported as a buyout. I've been in the car for an hour so that may have been revised to a merger.

 

Wall Street extends biggest two-day rally since 1970 - Telegraph

 

Doesn't take much to get the share boys humping their computers.

I'd like to see how Paulsons plans all pan out.Although I don't want to see everything go wrong(it does affect all of us),I still get miffed that banks seem just to get away with it every time.

'Here,we'll have your toxic stuff,don't worry about it'

 

Interesting to see Goldman Sachs & Morgan Stanley are now going to start taking investor deposits. This means its more likely the Fed will bail them out if things get sticky instead of hanging them out to dry like Lehman.