Bradford and Bingley - Treasury to intervene

Stavros_3

Don't panic Mr Mainwairing


The cavalry is on its way. Hopefully this will be the last B & B thread, all stops are being taken to sort this mess out.
1) It isn't going to go bust
2) Worse case scenario will be a take-over by the Government or another bank
3) Your savings are safe Mr mainwaring

http://news.bbc.co.uk/1/hi/business/7639199.stm

Banderman

Man lands on Moon

Banderman

Tony Blair wins historic 3rd term.

Stavros_3

HERE

sabretoothtigger

"The share price has collapsed - two years ago people were paying up to £2 for these shares. At the close of the week they were trading at around 20p each."

I think they floated at 2 pounds something and doubled in their best times

Husband_of_a_spendaholic

One year the sharesave price was 472p so the shares must have reached over £5 at one point!

Wrong decisions were made, however hindsight is a wonderful thing - the decisions most likely seemed right at the time.

Although I know they can't be held directly responsible, I do believe that the carpetbaggers that voted for the conversion of the building societies started a chain reaction which has lead to Northern Rock, Halifax, Alliance & Leicester and Abbey National (and most likely Bradford & Bingley now) being gobbled up resulting in customer's having less choice in the marketplace.

bristolleedsfan

Husband_of_a_spendaholic wrote: »

Although I know they can't be held directly responsible, I do believe that the carpetbaggers that voted for the conversion of the building societies started a chain reaction which has lead to Northern Rock, Halifax, Alliance & Leicester and Abbey National (and most likely Bradford & Bingley now) being gobbled up resulting in customer's having less choice in the marketplace.

Lots of Building Societies have been " gobbled up" by other Building Societies also resulting in less choice in the marketplace.

Lets also not forget the plight of both Derbyshire BS and Cheshire BS where no blame can be attached to "Carpetbaggers".

"Carpetbaggers" neither made the lending decisions/dependency on the wholesale markets that NR made nore did they make the decision that B+B went so deep into the buy to let market and self certification morgages.

There may be some more "loss" announcements shocks to come from the BS movement yet.

babyblooz

Just heard that the Gov. are going to intervene in Brandford and Bingley, so what would happen to my shares with them? They were only worth 20p on Friday, so what is the likely outcome?

Milarky

babyblooz wrote: »

Just heard that the Gov. are going to intervene in Brandford and Bingley, so what would happen to my shares with them? They were only worth 20p on Friday, so what is the likely outcome?

You wouldn't be blogging on the BBC site as 'Robert Peston' would you?

babyblooz

err no! Who is he? Is he good? Should I be reading him?

fatpig_2

babyblooz wrote: »

Just heard that the Gov. are going to intervene in Brandford and Bingley, so what would happen to my shares with them? They were only worth 20p on Friday, so what is the likely outcome?

You'll get nothing like N Rock shareholders did

Why didn't you sell ages ago? The writing's been on the wall for months.