HankScorpio

Congratulations to all the panickers who withdrew their money - mission accomplished.

BBC NEWS | Business | Treasury to nationalise B&B bank

MickeyTake

The Sky News presenter slipped up this morning and said that they had not shown the queues of people withdrawing money from a Building Society (he didn't name them) and it's cash machines ...... to avoid panic!!!

I didn't think the News Channels would agree to such a thing - maybe the treasury had requested that they do not stoke the fires and cause a run on the Banks?

Truth is that the £35k Guarantee cannot be honoured ....... there simply isn't the funds to do so - it's extremely worrying if you have a nestegg, it is most certainly at risk.

51st state

where have you learnt of this ????, can you back this claim up, ???
not having a go, just wanting to learn something if there is something to learn, cheers

and the other thing is ????
put your money in northern rock

michaelro

wasn't it on the money saving programme - Only £4 Billion available from FSA

GC8

I went into the Sheffield city centre branch yesterday afternoon and I was the only customer...

mart360

Prehaps if these banks had remained as building societys, and not carpet

bagged to banks, then they wouldn't be in the mess there in now?


Mart

salsa-king

as you say, Sheffield City Centre, everyone would be in Meadow hall!!!


shares at 20p at the mo
Bradford&Bingley

dpb

precisely

MickeyTake

Some people, much more qualified than me, have added up all the accounts eligible - if everyone wanted to call on the guarantee then there is not enough money to go around ......... not simply a small shortfall, but massive.

Thats why Banks cannot be allowed to go bust ..... the Governments of the world are collecting Banks like stamps - the future is being pawned to bail out the excesses of the past. At one point it all needs to be paid for!

rossyboy

iTrader: (8)

Through increased taxes, therefore reducing consumer and business spending power and causing a recession anyway?

MickeyTake

Indeed, that's true ....... but that is the future - we cannot allow the system to crash, however much it is going to hurt.

I'll wager that no party wants to win the next election ...... they will have to raise taxes, over see a recession, and get thrown out at the next election because of their incompetence!!!

boxst

Yes, I agree with that. To the extent that it must cross Labour's mind to call an election now so that the Conservatives are at the helm as all this gets worse in the next year.

Steve

Wenker Man

Well after seeing what I can only call wreckless journalism by the BBC's journalists on last week's Panorama program, aimed mainly at B&B. It is of no suprise.

Telling the truth of a situation is one thing. Twisting the truth and creating mass panic that reults in the downfall of the economy, therfore making it worse for the public its trying to inform, is tantamount to treason.

At this point, it doesn't matter if the bank's previous actions is wrong. Its too late, the damage is done. What doesn't help is informing the public NOW when it is too late to be of any benefit. All it does is make the problem worse.

As knocking down the weakest banks is very detrimental to our enconomy as a whole. The global picture is damage limitation, and that is ensure that the weakest banks are supported and not allowed to succumb to victimisation and panic which worsens their situation.

If the media wanted to benefit the public of this problem, it should have been reported over 5years ago when wreckless mass lending was at it peak. reporting it now helps nobody. Just makes it worse (of couse I still blame Labour for allowing this to happen in the first place).

GC8

There isnt a branch in Meadowhall. The only B&B branches are in Chesterfiield and Rotherham.

coolangatta

You are indeed a Mickey Take.
B&B is being nationalised! Best news for savers

coolangatta

Apart from the 'blaming labour' sh1te, you were doing well.
Labour/conservative have never been and never will be the money markets.
The markets are hoes!!!

Leslie

Quite right too.

Les

lozgti

Where has all the banks money gone?

And I mean all the banks here and in the US.Where has it all gone?

dpb

Lozgti ..! it didnt exist - thats why were in so much ****

Leslie

Cannot believe that the bosses keep on walking away with enormous "bonuses" at the end of it all when it was down to their greed and incompetence that the banks failed anyway.

Les

pwhittle

savings, mortgages blah blah

I want to know what'll happen the loverly girl from the B&B adds if the bank goes down (insert innuendo!)

r32

I still think its Bin Laden, sat in a cave with his IT expert selling the right shares, manipulating prices, raising scares causing havoc.

Klaatu

It'll all be linked to AGW, some how, by some "scientists" employed by gummint!

coolangatta

The sooner we all ignore it and it becomes yesterdays news the sooner we will get back to 'normality'. Except it will be a new normality.
There is so much hype, speculation, rumour and miss-information etc. that is doing good only for the sharks out there Don't feed the animals

Klaatu

Agreed. Turn off the TV, the radio, and don't read the "news" papers. They'll be eating out of our hands in a week.

lozgti

It's actually real though.

Banks here and over there are genuinely up that creek and are going bust even without the help of 'The Sun'

In fact IMO they have known about things for a long time and there is more to come.

What really gets up my nose is even on Scoobynet most people knew it was coming.How come countries + their governments didn't? (maybe they need to buy a scooby and join here )