Oh dear - Bradford & Bingley nationalisation looks increasingly likely

ad44downey

Chris2685 wrote: »

I remember when my shares with them were worth more than £3 each... Those were the days

They were over £5 at their peak.

And think of all those who took part in the rights issue a few weeks ago. They amazingly bought even more shares in this sinking ship for 55 pence. They probably thought it was cheap at that price - How wrong they were :eek:

wymondham

carolt wrote: »

http://www.telegraph.co.uk/finance/financetopics/financialcrisis/3087787/Bradford-and-Bingley-nationalisation-looks-increasingly-likely.html


Bradford & Bingley nationalisation looks increasingly likely

Bradford & Bingley's future looked increasingly uncertain as the City regulator searched for a white knight for the stricken bank.

But there was a growing view among bankers that B&B will be nationalised and knocked together with Northern Rock.

Oh dear, here we go again.... good to think our tax money is being wisely spent! :rolleyes:

baby_boomer

ad44downey wrote: »

They were over £5 at their peak.

Here's a 3 year chart

I must have sold one lot of shares at over 510p at the same time that B&B were concluding that horrendous deal mentioned elsewhere by !!!!!!.

Other family batches were disposed of above £3 and above £4, thank goodness.

For old carpetbagging times' sake I've foolishly kept one 250 lot to the bitter end, ignoring the rights issue. At least the dividends were good

Generali

!!!!!!? wrote: »

What's surprising is the complete apathy being shown by the population.

I've seen it reported that per person, the proposed Paulson bailout in the USA is about half of the liabilities that the British taxpayer took on with Northern Rock. I dunno how true that is though.

That's not comparing like-with-like though. Everything that Paulson buys will lose money by definition. If banks think it could make money they won't sell it to the treasury. Anything that makes money will be a mistake on the part of the bank selling.

NRK had some loans that will perform, others that won't entirely (but will well enough to make money) and others that will lose money.

!!!!!!? wrote: »

Whereas in the USA people don't put up with the government reaching into their pockets to bail out a bunch of wealthy incompetents without a fight - in the UK the flock just go baa baa baa as the government fleeces them.

English people like being ripped off. It's the only explanation as to why it happens constantly.

mystic_trev

Before we b@gger them up

Brian_Bullocks

Robert Peston "I have learned tonight that the Treasury has taken a decision to nationalise Bradford & Bingley" http://www.bbc.co.uk/blogs/thereporters/robertpeston/2008/09/27/index.html

GustyGardenGalaxy

And there was me about to open a savings account with B&B. Perhaps that's not such a good idea now?

olly300

GustyGardenGalaxy wrote: »

And there was me about to open a savings account with B&B. Perhaps that's not such a good idea now?

Your savings are protected unless you are putting over £35,000 in the account.

olly300

Brian_Bullocks wrote: »

Robert Peston "I have learned tonight that the Treasury has taken a decision to nationalise Bradford & Bingley" http://www.bbc.co.uk/blogs/thereporters/robertpeston/2008/09/27/index.html

It's breaking news on the BBC.

The government can't find a buyer so they are being nationalised.

BiggaThanBen

olly300 wrote: »

Your savings are protected unless you are putting over £35,000 in the account.

Yeah, in theory .. see post #2