Bradford & Bingley Bailout by the City

Treadmill

I remember some of my collegues buying Railtrack shares at £3.50 on the basis that they where once nearly £20 and would probably go back up to that shortly before Railtrack went into administration.

Treadmill

Mr_Mumble wrote: »

Please read this thread brit1234:

http://forums.moneysavingexpert.com/showthread.html?t=553760

That makes for fantastic reading lol

I wonder how its panning out for the people who bought them ? lol

worldtraveller

!!!!!!? wrote: »

Currently the cash is being put up by a 'City Consortium' so we taxpayers are not yet directly supporting them - except through undisclosed 'liquity measures' which all banks have access to.

My guess is that as BTL collapses from the johnny-come-lately BTL amateurs and defaults rise, we have a strong candidate for Northern Rock MkII.

Yes, I wonder what dodgy deals have been done in the back room of some Government department over this?? The taxpayer's might as well sell their souls as well, because there ain't going to be anything left when the true picture as to how much we've subsidised the banks, maybe, just maybe, becomes clearer in the next few years! :eek:

For anyone that thinks that the credit crisis is getting better, forget it! It's only just begun! Or should I say "We've only just begun" (with thanks to The Carpenters). _pale_

ad44downey

Bradford and Bingley shares down another 9% today alone to only 55 pence. The future looks grim for them

Snooze

!!!!!!? wrote: »

http://www.bbc.co.uk/blogs/thereporters/robertpeston/2008/07/bradford_bingley_rescued_again.html

I have learned tonight that a vital £400m fund raising by Bradford & Bingley, the battered buy-to-let bank, has been rescued for a second time.
Leading City institutions have rallied round to provide £179m of vital equity following a last-minute decision by the US private-equity house, Texas Pacific Group, to walk away from the deal.
TPG backed away from providing the new money after Moody's, the credit rating agency, announced it was downgrading the debt of Bradford & Bingley.


Another farce - what's the betting that the public ultimately end up taking this turkey onto the national balance sheet like NR?

Yep, that's another 10p increase coming on a litre of unleaded.

:mad:

Rob

worldtraveller

ad44downey wrote: »

Bradford and Bingley shares down another 9% today alone to only 55 pence. The future looks grim for them

Ended off 18% today. IMHO, it's now really looking like NRK, but in slow motion!

ad44downey

Things are going to get even grimmer for B&B shareholders. It's time to bale out now if you haven't already done so.


Panmure Gordon analyst Sandy Chen cut his target price for the bank to 20p, citing the "gauntlet" of "an emergency rights issue, more difficult funding conditions, and a rapidly deteriorating macro environment". B&B shares closed below the rights price at 50p, down 11p.

ad44downey

Shares down 13% today so far to only 43.5 pence. B&B is not long for this world it seems

Rikki

Can the Government pick and choose the banks it decides to rescue?
It saved Northern Rock but then Darling has his mortgage with them. Do you think they should bail out B&B should the need arise?

Mandark

If I was Darling I would be saying to the banks, we saved your reps last time with the Northern Rock bailout, now you all sort something out for the B&B.