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Remaining banks OK says Peston! Buy in?

amcluesent
amcluesent Posts: 9,425 Forumite
in Savings & investments
Peston, a.k.a the PM's spokesman on banking, reckons that the B&B is the last significant bank that relied on wholesale money and the rest are sound.

So....is the nationalisation of B&B a bottom and now is the time to go long on the UK banking sector.:confused:
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Comments

  • fatpig_2
    fatpig_2 Posts: 631 Forumite
    Err.........not for me thanks. I doubt if Robert Peston thinks they're a good investment at this point, just that they're less likely to go bust than previously. Not going bust doesn't mean they'll make good profits though

    But I wish you good luck in your endeavours
  • bristolleedsfan
    bristolleedsfan Posts: 12,655 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    amcluesent wrote: »
    Peston, a.k.a the PM's spokesman on banking, reckons that the B&B is the last significant bank that relied on wholesale money and the rest are sound.

    .


    And there was I, having formed the opinion that the reason why RBS and Natwest are offering mega loss leading ISA rates was due to them being desperate for cash. :o


    http://www.moneysavingexpert.com/savings/cash-isa-transfers
  • pumpndump
    pumpndump Posts: 139 Forumite
    As Bob Fleming might say:
    "Preston says that's it's OK to...[Cough! Cough! Cough!]...it's OK to...[Cough! Cough! Cough!]...to invest in British...[Cough! Cough! Cough! Cough!]...I'm all right n...[Cough! Cough! Cough! Cough! Cough!] That's got it...[Cough! Cough!] I'm OK now. [Cough! Cough! Cough! Cough! Cough! Cough!...]"
    In the field of investment, 99 per cent of everything is garbage. Why? Because we have "gearing". - Robert Beckman
  • Milarky
    Milarky Posts: 6,356 Forumite
    Part of the Furniture 1,000 Posts Photogenic
    pumpndump wrote: »
    As Bob Fleming might say:
    Personally I can't stand Peston when being interviewed. He gets all 'ooh' and 'arr'-ish (as he pontificates) on his favourite subject - of banking crises. It's as though he's drooling over the misdeeds of others. Perhaps he should be dubbed
    Der Shardenfreudenexperten der BBC instead?

    [Maybe it's time to get out, Bob?]
    .....under construction.... COVID is a [discontinued] scam
  • sabretoothtigger
    sabretoothtigger Posts: 10,036 Forumite
    Part of the Furniture 10,000 Posts Photogenic Combo Breaker
    The events are pretty much once in lifetime events, he isnt exactly drooling but considering he is fairly recent to this particular job he is in the right place at the right time for his career.

    The banking problems arent over, theres still bad debts. The general economic bad news will probably increase as house prices fall further, jobs are lost and other problems. Arrears would be expected to rise.
    The american deal sounds tough to me and possibly harmfull to present shareholders but if it fixes credit markets its amazing news

    The shares are a better buy now then when they were 10 pounds, less to lose for starters :confused:



    Rather then the idea of 'invest all your money right now', this seems probably much cleverer http://www.halifax.co.uk/sharedealing/products/halifax_sharebuilder.asp
    (or whatever equivalent)
  • bristolleedsfan
    bristolleedsfan Posts: 12,655 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    http://uk.finance.yahoo.com/q?d=t&s=RBS.L ;)


    "Fortis bailout raises questions for RBS" ;)

    http://www.citywire.co.uk/personal/-/news/markets-companies-and-funds/content.aspx?ID=315639&re=3829&ea=187011 ;)
  • napoleon
    napoleon Posts: 611 Forumite
    We're not even halfway through the great banking crash. Beware!
  • opinions4u
    opinions4u Posts: 19,411 Forumite
    If you can see the growth in banking, buy in.

    Tell me where the growth is and I will follow.

    Personally I think 2011 will be the time to buy.
  • bristolleedsfan
    bristolleedsfan Posts: 12,655 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    RBS Shares currently down 15.43%. :eek:

    http://uk.finance.yahoo.com/q?d=t&s=RBS.L
  • Mr_Mumble
    Mr_Mumble Posts: 1,758 Forumite
    RBS down as they may be holding the can for Fortis' ABN assets.

    Lloyds TSB and HBOS have fallen more than 10% today. The merger now looks unlikely - why would shareholders in Lloyds want dodgy HBOS? Why should Lloyds shareholders accept the politicians attempt at a quick fix?
    "The state is the great fiction by which everybody seeks to live at the expense of everybody else." -- Frederic Bastiat, 1848.
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