Bradford and Bingley - Treasury to intervene

Milarky

bristolleedsfan wrote: »

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

With Nationwide poised to grub them up, no doubt.

babyblooz

they didn't cost me anything in the first place, they were freebies! I suppose I should have sold them, but I had other things to worry about at the time, family stuff! Wish I had now though!

barak

I think Husband of a spendaholic has a point.

Once upon a time, the Halifax was the largest building society - it was enormous - much larger than Nationwide - and Bradford & Bingley Building Society hadn't started to put most of its eggs into the Buy-to-Let and Self-Certificated mortgage baskets. I voted against B&B becoming a plc. I thought enough was enough.

The Derbyshire and Cheshire Building Societies certainly seem to have gone astray, but are minnows in comparison.

Quite apart from Northern Rock, the demise of what we once knew as "the Halifax" is really quite extraordinary. Carpetbaggers may not be responsible for any such failure, but their votes certainly made it possible.

GustyGardenGalaxy

So are the B&B (or what's left of them) a 'bad' place to open a savings account with? I mean, bearing in mind that the money looks to be 'safe'?

fatpig_2

babyblooz wrote: »

they didn't cost me anything in the first place, they were freebies! !

I don't undersatand your logic.

They were worth something, now they're not. So it doesn't really matter if you got them for free you've lost out financially. I think they were over £5 per share not so long ago. So I'd make that £1,250 at least down the swanee.

campins

Kaupthing are looking more attractive by the minute :eek: :mad:

edwinac_2

Husband_of_a_spendaholic wrote: »

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.

Alternatively... there is a vast banking conspiracy at work.

It is a conspiracy in which the major banks at the top of the food chain are used deeply devious methods to undermine the viability of their smaller rivals.

Those methods include short selling; the dumping of toxic debt on rivals; the peddling of baseless rumours in the controlled media; the collusion of corrupt credit ratings agencies who issue stark warnings of insolvency in the rivals, etc..

This is a coordinated assault, and the objective is to depress the share price of a hapless bank, in readiness for its forced sale at a fire-sale price.

And worst of all, the take-over is dressed us as an act of benevolence from a "white knight" saviour.

Nothing could be further from the truth - the City of London is guilty of larceny on a grand scale.

paulherts

http://news.bbc.co.uk/1/hi/world/7640143.stm

Nationalised

Catssquirrel

B&B another rocksolid nationlised bank. Boom & Bust, Ho Ho

opinions4u

fatpig wrote: »

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.

The government is yet to decide what Northern Rock shareholders should get. Can't see it should be much though! Any bids over 10p?