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Bradford & Bingley Bailout by the City
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Fortunately I don't actually own the shares, I'm just spreadbetting on them so I can immediately lock in the profit when they rise, spread betting is also highly leveraged so you get more bang for your buck compared to actually owning the shares, the downside is you can lose money as quick as you can blink if you don't keep your eye on the ball.
If you want to see a grown man cry watch my reaction when I'm long on FTSE and it drops rapidly when I nip off for a quick lash, you can do stop-loss and that type of thing but I'm not really that clued up...0 -
If you want to see a grown man cry watch my reaction when I'm long on FTSE and it drops rapidly when I nip off for a quick lash, you can do stop-loss and that type of thing but I'm not really that clued up...
You'll have to get a commode fitted into your office chair and then you'll not miss any of those drops.
Mortgage Free in 3 Years (Apr 2007 / Currently / Δ Difference)
[strike]● Interest Only Pt: £36,924.12 / £ - - - - 1.00 / Δ £36,923.12[/strike] - Paid off! Yay!!
● Home Extension: £48,468.07 / £44,435.42 / Δ £4032.65
● Repayment Part: £64,331.11 / £59,877.15 / Δ £4453.96
Total Mortgage Debt: £149,723.30 / £104,313.57 / Δ £45,409.730 -
Here's a lesson for those traders who don't use stops, esp on leveraged accounts:
http://break.com/index/stock-future-trader-gets-slammed.html?matchid=NDM4MzIy0 -
I know exactly what that guy was going through, I've never actualy lost big money but have been almost physically sick when I have seen a 10K gain I've made turn red in a matter of seconds, thats why its called gambling though...0
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The incipient collapse of Freddie Mac & Fannie Mea in the U.S. will probably dump an additional US$5 trillion in debt onto the the American taxpayer as their ultimate backstop.
Don't be fooled! This is coming over here to the U.K. very soon!
Maybe you thought that NRK was the end of it! Get real! It is only the start!
It will not be a pleasant process.
The City bank's will cherry-pick the productive mortgages, and the rest will be dumped on everyone else's doorstep.
People who didn't borrow cheap money they couldn't afford and who paid their mortgages on time, will nonetheless have to pay considerably higher taxes to cover the losses incurred by their fellow citizens.
We really are f****d!
Sorry, but there really is no other word for it!There is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...0 -
The Daily Mail are reporting (tomorrow's edition) that they have been bailed out by a group of the big banks - saw the front page on the telly news just now.
They seem to have enough money to pay for their 'Lifetime Interest Rate' ad campaign!
I did wonder whose lifetime they meant, the customer or the company? :rolleyes:0 -
worldtraveller wrote: »The incipient collapse of Freddie Mac & Fannie Mea in the U.S. will probably dump an additional US$5 trillion in debt onto the the American taxpayer as their ultimate backstop.
Don't be fooled! This is coming over here to the U.K. very soon!
Maybe you thought that NRK was the end of it! Get real! It is only the start!
It will not be a pleasant process.
The City bank's will cherry-pick the productive mortgages, and the rest will be dumped on everyone else's doorstep.
People who didn't borrow cheap money they couldn't afford and who paid their mortgages on time, will nonetheless have to pay considerably higher taxes to cover the losses incurred by their fellow citizens at the prodding of an elected class that sought to extend homeownership to every U.K. citizen capable of casting a vote.
We really are f****d!
Sorry, but there really is no other word for it!
Doomed, we're all doomed!!! - Cue Pte Fraser.......0 -
True, but I also like to compare Lance Corporal Jack Jones with our (so called) financial leader:
Don't panic Captain Mervyn!There is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...0 -
Bradford and Bingley shares will be up to £1 by the end of next week, go long.
The reason being that now the big six have an interest they won't be loaning B&B shares out to short sellers....0 -
Time to get out if you haven't already done so:
B&B's shares are also trading well below their 55p rights price - they closed on Friday at 47.75p - despite speculation that they could attract a bidder. The Share Centre is urging private investors to sell even at these depressed levels as the market could get worse.
James Hamilton, banking analyst at Numis Secuirities said the market is 'almost certain to continue getting worse'. He believes all British banks could make losses next year as the housing gloom spreads to other industries.
Krusty & Phil Madoff, 1990 - 2007:
"Buy now because house prices only ever go UP, UP, UP."0
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