scooby L

But I've just taken out my £15k savings (it took 3 go's as well... )

I'm sure a few people on here will say I'm crying wolf...but it's my cash, and I'm not risking it.

davegtt

Considering I hear they should be merging with Lloyds TSB Id say it looks fairly safe for the time being.

Coffin Dodger

Up to £35k and you are guaranteed to get it back, underwritten by the FSA (i.e. the government). There is no risk.

It people like you that fuel these situations. Bet you had your car full to the brim and ten jerry cans of petrol at home during the fuel shortages and helped clear the supermarkets of bottled water, bread, etc. during the flooding.

Panic, panic, panic.

scooby L

Sure, no immediate danger, but I still think it's safer out of HBOS all together.

My wife's in finance, she said do it, today.

subaruturbo_18

You just wanted to brag that you had 15K

lozgti

The Lloyds Trustee Savings Halifax and Bank of Scotland plc.

Catchy

scooby L

I need access to that money for the next stage of my building works... last thing I need is my money "delayed" due to bank "issues"..sorry..but it's the right desision for me.

(plus no.. I never filled my car up in the fuel crisis..I live 1/2 mile from my office.. )

TelBoy

I'm in finance and i say don't do it.

scooby L

She's prettier than u

PeteBrant

I would say HBOS, regardless of current speculation, is one of the safest places to have your money - The Government would never let it go - It is an "AIG/Northern Rock" situation.

subaruturbo_18

prove it

chocolate_o_brian

iTrader: (22)

Thats nothing compared to the quotes the major '***** wavers' on here regurlarly spout.

Well I'm an unemployed bum and I have £2.63 in my wallet

Suck that

scoobynewbie72

iTrader: (1)

your a show off ive only got 2.50

chocolate_o_brian

iTrader: (22)

subaruturbo_18

Blimey, me as the student is made to feel rich for once

Give that a month until the final paycheck is spunked on beer at uni, and the over draft is maxed out

Geezer

She's obviously not very good at her job then! As has been previously mentioned, your money is safe, you are creating a situation (helping too). Your money is very safe in HBOS, we have very large resources and are still making money, not losing it, just not making as much as we were.

Of course, what you gonna do? Stuff it in your mattress? You might as well 'cos HBOS is a safer bet then alot of other UK banks.

Geezer

Funkii Munkii

A student with a scoob !

All I had in my days as a student was a fookin bus pass or a "backey" on someones pushbike

lozgti

Rumours,rumours,rumours.Or true?

These city boys really concern me.I have become so cynical about the stock market.It seems to me,just slip a bit of good news out and shares go up.Slip some doom out and hey presto...down they go.Not saying they all do it at all but it worries me.I don't trust anyone now.

How can anyone put a stop to it ? I sometimes think it is the banks' own fault by not simply stepping up and keeping everyone fully and properly informed.

Mind you it seems everyones dirty washing is coming out anyway

vindaloo

Given the problems that occurred when there was a run on NR with internet banking going down or crashing and being left down, I'd say you've done the right thing.

Though if you had envisaged it being a nest-egg rather than needed shortly for building works, maybe I'd be crying "c*ck!" also.

J.

PeteBrant

The banks are actually "fairly" innocent in all of this. Especially the UK banks

Banks were sold triple A investments, that were bad. They were sold repackaged sub prime mortgages that disguised the risk - It was totally legal - its just that people assumed that because the system worked with a 2% sub-primne market, there was no reason it wouldn't work as the sub-prime market grew. It didn't.

All of the sudden these triple A investment (which are all buy guaranteed not to lose money) start losing money, and banks find that have an indeterminate amount of exposure ot the problem.

And that's half the problem - Banks had no idea just how big their problems were, because thier exposure ot the sub-prome market was unknown.

So they stop lending to each other. And since a lot of banks work on the basis that they lend at a higher interest rate than they borrow, the whole thing ceases up.

I think the end result of all this will be that banks will work how they used to; Only lending money they actually have.

scooby L

She's very good at her job, As I said before, the money is needed in the next few weeks for interim payments of my extension.... now I (and my wife) felt that any HBOS issues may hinder these payments... no one knows what's going to happen in the next month or so... We chose to take our savings out to manage it outside HBOS. Nothing wrong with that.

It's not me (us) who are driving the shares of HBOS down, it's the stock market. HBOS is obviously top of the investment buyers miss list (until Lloyds put their money where their mouth is of course)

I will... as I said..It's my money... to invest as I see fit...!

I'm quite happy with my choice ..

PeteBrant

But no one lost their money with NR. And the people that left their money in there now have the best protected accounts in the country

scooby L

Indeed not...but how long were the ques.... and how long did it take people to withdraw cash? I'm avoiding THAT situation..

PeteBrant

Of course your own situation dictates what you should do, and you're the only person that can judge that. And what you feel comfortable with as well - it's no good leaving the money in there if you don't get a decent nights slee for the next 6 weeks.


It's the people that remove their money from HBOS because they are worried their money might dissapear overnight that are being silly.

TelBoy

To be honest though, pricing ABS and MBS assets has always been a bit of a black hole science, and i bet a lot of risk managers trusted their trading arms for valuations because there simply wasn't any other alternative. The margins were just too lucrative to bother asking the awkward questions. Burnt fingers all round.

PeteBrant

Well i think the problem also was that low risk investors, like pension funds etc got caught up in it, again, due to being sold repackaged loans that on the surface looked to have a guaranteed return, but underneath were something a pension fund investor would run a mile from.

fivetide

iTrader: (1)

Those queues were formed by people like you doing exactly this!!!!

Removing savings reduces the bank's liquidity and actually makes the situation worse. Justify it all you like but the upshot is panic panic.

5t.

coolangatta

Where you going to put it? another bank = same risk i.e. none
under the mattress = potential high risk

lung

You are a c88k.
Why didnt you say in the first place you were taking it out for building work?
Instead "hey look at me, im taking 15k out of the bank in trouble"