SteveR Posted October 12, 2008 Author Share Posted October 12, 2008 share price has already dropped but im not worried - the bosses keep telling us we have not even used a penny of Santanders money yet - all been done purely on Abbey profit! - if required we could use Santander to save us and not the government - There is even a rumour that we will launch a counter bid for HBOS but dont know how much truth there is to this:blink: Santander own Abbey. If Santander fail, Abbey and Alliance & Leicester fail too. Santander are on very shakey ground, which just got targetted. Monday won't be pretty for them. Quote Link to comment Share on other sites More sharing options...
Soop Dogg Posted October 12, 2008 Share Posted October 12, 2008 Santander own Abbey. If Santander fail, Abbey and Alliance & Leicester fail too. Santander are on very shakey ground, which just got targetted. Monday won't be pretty for them. And if Santander fail, who'll bail out the savers then, as it's surely the job of the Spanish govt. to do so? Quote Link to comment Share on other sites More sharing options...
SteveR Posted October 12, 2008 Author Share Posted October 12, 2008 Just to put this into perspective, HBOS and RBS are asking for more money than their companies are currently worth. Quote Link to comment Share on other sites More sharing options...
Gazboy Posted October 12, 2008 Share Posted October 12, 2008 Half the problem is that these financial institutions would not let on just how much money they had lost, what their exposure was and how much they needed to get themselves out of the doo do. The figures are just mind boggling, 2 years ago we thought a billion quid was a lot of f**king money, today our government has commited £200bn (I think) so far since Northen Rock first announced it had a problem and they are not 100% sure they'll get it back! Quote Link to comment Share on other sites More sharing options...
Gazboy Posted October 12, 2008 Share Posted October 12, 2008 Santander own Abbey. If Santander fail, Abbey and Alliance & Leicester fail too. Santander are on very shakey ground, which just got targetted. Monday won't be pretty for them. Santander could save themselves £8bn by putting a bullet in that blokes head (why nobody has so far is mind boggling) Quote Link to comment Share on other sites More sharing options...
Bobbeh Posted October 12, 2008 Share Posted October 12, 2008 Are you talking about county councils putting fund into Icelandic banks? If so, what's that got to do with Brown? As far as I know, the councils made their own decisions and the ones that got caught had largely ignored the warnings. Or are you talking about something else? I was thinking the same.. I think some people on here even think he's responsible for the Credit Crunch in the US too Quote Link to comment Share on other sites More sharing options...
SteveR Posted October 12, 2008 Author Share Posted October 12, 2008 And if Santander fail, who'll bail out the savers then, as it's surely the job of the Spanish govt. to do so? Ho ho ho. Like they'll protect UK people/businesses ahead of Spaniads (NB: See Iceland.) Spain is one of the few places experiencing an even bigger house price crash than the UK and their banks did the same as ours. They're screwed just as badly as us, so don't look to them to save UK. Q: Where does all this bailout money come from? Q: Have you seen how much some countries (including ours) are piling in, Vs the GDP? What do you think that spells for the economy? Quote Link to comment Share on other sites More sharing options...
Gazboy Posted October 12, 2008 Share Posted October 12, 2008 Ho ho ho. Like they'll protect UK people/businesses ahead of Spaniads (NB: See Iceland.) Spain is one of the few places experiencing an even bigger house price crash than the UK and their banks did the same as ours. They're screwed just as badly as us, so don't look to them to save UK. Q: Where does all this bailout money come from? Q: Have you seen how much some countries (including ours) are piling in, Vs the GDP? What do you think that spells for the economy? Q1, international money markets, other countries & domestic tax increases. Q2, I think as of tomorow our 'pile' will be 20% of our GDP. I wouldn't be suprised if VAT goes up next year. Quote Link to comment Share on other sites More sharing options...
chris2o2 Posted October 12, 2008 Share Posted October 12, 2008 I heard in the latest "Deal or no deal" Noel phones the banker but no-one answers Quote Link to comment Share on other sites More sharing options...
Ian R Posted October 12, 2008 Share Posted October 12, 2008 Things wouldn't be as bad if the press didn't talk the markets into the pooh. Not saying things would be great but they would be a lot less tense. RBS is selling of assets at the moment they are off loading Tesco Personal Finance which they have 50% stake in. Tesco have applied for banking authority and are buying the other 50% and going it alone. This is no concern to tesco though as the have quite strict credit scoring criteria. Out of interest I read a book by Sir Ian McLaurin called Tiger in the tale and he predicted that one day Tesco would run a bank in their own right. How long will it be before Tesco run current accounts and run full banking facilities within their stores. I guess within the next 5 years they will be. Quote Link to comment Share on other sites More sharing options...
SteveR Posted October 12, 2008 Author Share Posted October 12, 2008 international money markets - frozen, and they're just as empty as ours other countries - empty, again they've also got their own problems domestic tax increases - doh! I think as of tomorow our 'pile' will be 20% of our GDP. I'd read 30%, but either way it's >£20k per person in the UK, so we can each expect to see £20k less on public spending, or being asked for £20k extra in taxes (gulp) - or a combination of the two - in the coming years I wouldn't be suprised if VAT goes up next year. Yup. Quote Link to comment Share on other sites More sharing options...
Lbm Posted October 12, 2008 Share Posted October 12, 2008 Didn't Dickie Branson try and withdraw I billion pounds from HBOS, who naturally said no- but he (Virgin Atlantic) was saved by Lloyds? But now Lloyds have backed out of HBOS deal? Oh dear. Or am I scare mongering or just being factually incorrect?...probably both. Quote Link to comment Share on other sites More sharing options...
Gazboy Posted October 12, 2008 Share Posted October 12, 2008 Steve we will borrow even more off the likes of China, who really are bank rolling Americas problems, they are just throwing money at Uncle Sam- the USA's national debt had to be extended to cover this $700bn to $13tr! China are their main creditors. Quote Link to comment Share on other sites More sharing options...
SteveR Posted October 12, 2008 Author Share Posted October 12, 2008 Steve we will borrow even more off the likes of China You reckon? who really are bank rolling Americas problems, they are just throwing money at Uncle Sam- the USA's national debt had to be extended to cover this $700bn to $13tr! China are their main creditors. Fook. I understand America had to basically explain themselves to China recently, and try to assure them their dollar holding was still worth keeping. I can see US$ dropping off the #1 slot for having worldwide 'authority'. EDIT: Interestingly, FTSE is currently UP ahead of trading. http://www.igindex.co.uk Quote Link to comment Share on other sites More sharing options...
Ian R Posted October 12, 2008 Share Posted October 12, 2008 Buying Gold is the way to go at the moment. Will be up 40% at least by April Quote Link to comment Share on other sites More sharing options...
Lbm Posted October 12, 2008 Share Posted October 12, 2008 Buying Gold is the way to go at the moment. Will be up 40% at least by April http://www.marketwatch.com/News/Story/Story.aspx?column=Metals+Stocks&siteid=mktw&dist Quote Link to comment Share on other sites More sharing options...
Ian R Posted October 12, 2008 Share Posted October 12, 2008 http://www.marketwatch.com/News/Story/Story.aspx?column=Metals+Stocks&siteid=mktw&dist We will see. Quote Link to comment Share on other sites More sharing options...
Lbm Posted October 12, 2008 Share Posted October 12, 2008 *Goes to place life savings and house all on gold* because a respected member told me too. Quote Link to comment Share on other sites More sharing options...
Gazboy Posted October 12, 2008 Share Posted October 12, 2008 Didn't everyone think oil would be $200 a barrel by christmas when it hit $148 during the summer? To think people laughed at me when I said it'd be $80. Quote Link to comment Share on other sites More sharing options...
Ian R Posted October 12, 2008 Share Posted October 12, 2008 *Goes to place life savings and house all on gold* because a respected member told me too. Who told you that I have put my all my investment £10.50 in Quote Link to comment Share on other sites More sharing options...
SteveR Posted October 12, 2008 Author Share Posted October 12, 2008 Didn't everyone think oil would be $200 a barrel by christmas when it hit $148 during the summer? To think people laughed at me when I said it'd be $80. I couldn't see it staying high and predicted a return to Quote Link to comment Share on other sites More sharing options...
Gazboy Posted October 12, 2008 Share Posted October 12, 2008 I couldn't see it staying high and predicted a return to Remember the £ has slide 30 cents against the dollar, which partly takes into account why at $150pbl fuel was 1.17 but now is 1.06 @ $79pbl- profitering and daylight robery are the other reasons Quote Link to comment Share on other sites More sharing options...
Lbm Posted October 12, 2008 Share Posted October 12, 2008 Who told you that I have put my all my investment £10.50 in That'll be a nice tidy sum come April. As much as £14 I believe? Perhaps more? Quote Link to comment Share on other sites More sharing options...
Ian R Posted October 12, 2008 Share Posted October 12, 2008 Didn't everyone think oil would be $200 a barrel by christmas when it hit $148 during the summer? To think people laughed at me when I said it'd be $80. I know what you mean. I sold all my Tesco shares at 4.92 early in the year aware of the fact the either re-split or drop some what. I am talking thousands if shares, people at work said they were holding onto theirs and I was nuts. Closing price this week was 3.32 looks like a good move Quote Link to comment Share on other sites More sharing options...
Gazboy Posted October 12, 2008 Share Posted October 12, 2008 I know what you mean. I sold all my Tesco shares at 4.92 early in the year aware of the fact the either re-split or drop some what. I am talking thousands if shares, people at work said they were holding onto theirs and I was nuts. Closing price this week was 3.32 looks like a good move I wanted to sell our Barcley's shares in 2002, for £21 a share (we had 400) but my wife insisted we keep them for a rainy day, well it's effing pouring now and they are worth £350 for the lot. Quote Link to comment Share on other sites More sharing options...
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