Bradford and Bingley - Treasury to intervene

LittleVoice

opinions4u wrote: »

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

And, AFAIK, there has been no communication from "the government" direct to shareholders. They communicate via the media and possibly NR website.

jamie304

GustyGardenGalaxy wrote: »

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'?

The savings part will most likely be sold off to someone like Santander or HSBC very quickly. The government will only keep the £50,000,000,000 of mortgage debt for taxpayers to take the risk on.

fatpig_2

nothing to see here - please move along

bristolleedsfan

barak wrote: »

I Carpetbaggers may not be responsible for any such failure, but their votes certainly made it possible.

To be fair Building Society members have historically voted by a majority for the recommendations made by the board.;)

This article evidences the lack of power that "Carpetbaggers" have held over Building Societies.

http://www.independent.co.uk/news/business/news/savers-miss-163650-windfalls-after-cheshire-spurns-portman-bid-472202.html


MFI has been close to collapse, whose fault is that ?????????????????????

dunstonh

I wouldnt want to be working for B&B in the medium term. It looks like B&B is going to be nationalised but instantly broken up and sold on to multiple buyers with the Govt taking on the high risk stuff and sticking it in with Northern Rock. Goodbye Bradford and Bingley brand.

At least this should more or less see the end of the UK banks at risk.

Money_Grabber13579

So the BBC has confirmed that B&B is going down the same route as NR. Did it really need it? Does anyone else think that all these bank failures didn't really need to happen, but have been helped along by scaremongering in the press?

barak

dunstonh wrote: »

.....with the Govt taking on the high risk stuff and sticking it in with Northern Rock.....

That should enable Ron Sandler to stay on a bit longer at £90,000 a month

dunstonh

Covered already in this thread:
http://forums.moneysavingexpert.com/showthread.html?p=14524313#post14524313

Please can we keep the discussions to as few threads as possible so other threads on unrelated topics dont get swamped. (any chance of board guides merging threads if this happens?)

barak

bristolleedsfan wrote: »

To be fair Building Society members have historically voted by a majority for the recommendations made by the board.;)

I wonder how many BS members have ever voted at all except when there appeared to be some hard cash coming their way :rolleyes:

babyblooz

When I said they were freebies, I meant that we hadn't invested any of our own money in them and yes, I know I could have sold them, but at the time they started to go down, I had other things on my mind much more important than money! I know I should have sold them at the optimim time, but I didn't, so, just out of interest now, I wondered what would happen to them. I am certainly not expecting to get anything, I just don't know what happens in circumstances like these.