Remaining banks OK says Peston! Buy in?

amcluesent

Peston, a.k.a the PM's spokesman on banking, reckons that the B&B is the last significant bank that relied on wholesale money and the rest are sound.

So....is the nationalisation of B&B a bottom and now is the time to go long on the UK banking sector.

fatpig_2

Err.........not for me thanks. I doubt if Robert Peston thinks they're a good investment at this point, just that they're less likely to go bust than previously. Not going bust doesn't mean they'll make good profits though

But I wish you good luck in your endeavours

bristolleedsfan

amcluesent wrote: »

Peston, a.k.a the PM's spokesman on banking, reckons that the B&B is the last significant bank that relied on wholesale money and the rest are sound.

.

And there was I, having formed the opinion that the reason why RBS and Natwest are offering mega loss leading ISA rates was due to them being desperate for cash.


http://www.moneysavingexpert.com/savings/cash-isa-transfers

pumpndump

As Bob Fleming might say:
"Preston says that's it's OK to...[Cough! Cough! Cough!]...it's OK to...[Cough! Cough! Cough!]...to invest in British...[Cough! Cough! Cough! Cough!]...I'm all right n...[Cough! Cough! Cough! Cough! Cough!] That's got it...[Cough! Cough!] I'm OK now. [Cough! Cough! Cough! Cough! Cough! Cough!...]"

Milarky

pumpndump wrote: »

As Bob Fleming might say:

Personally I can't stand Peston when being interviewed. He gets all 'ooh' and 'arr'-ish (as he pontificates) on his favourite subject - of banking crises. It's as though he's drooling over the misdeeds of others. Perhaps he should be dubbed
Der Shardenfreudenexperten der BBC instead?

[Maybe it's time to get out, Bob?]

sabretoothtigger

The events are pretty much once in lifetime events, he isnt exactly drooling but considering he is fairly recent to this particular job he is in the right place at the right time for his career.

The banking problems arent over, theres still bad debts. The general economic bad news will probably increase as house prices fall further, jobs are lost and other problems. Arrears would be expected to rise.
The american deal sounds tough to me and possibly harmfull to present shareholders but if it fixes credit markets its amazing news

The shares are a better buy now then when they were 10 pounds, less to lose for starters



Rather then the idea of 'invest all your money right now', this seems probably much cleverer http://www.halifax.co.uk/sharedealing/products/halifax_sharebuilder.asp
(or whatever equivalent)

bristolleedsfan

http://uk.finance.yahoo.com/q?d=t&s=RBS.L


"Fortis bailout raises questions for RBS"

http://www.citywire.co.uk/personal/-/news/markets-companies-and-funds/content.aspx?ID=315639&re=3829&ea=187011

napoleon

We're not even halfway through the great banking crash. Beware!

opinions4u

If you can see the growth in banking, buy in.

Tell me where the growth is and I will follow.

Personally I think 2011 will be the time to buy.

bristolleedsfan

RBS Shares currently down 15.43%. :eek:

http://uk.finance.yahoo.com/q?d=t&s=RBS.L

Mr_Mumble

RBS down as they may be holding the can for Fortis' ABN assets.

Lloyds TSB and HBOS have fallen more than 10% today. The merger now looks unlikely - why would shareholders in Lloyds want dodgy HBOS? Why should Lloyds shareholders accept the politicians attempt at a quick fix?