Sleepless nights

Cannon_Fodder

Speculation and rumour alone do not make banks become nationalised.

Should have said "well-founded" speculation...

If there was NO foundation to the rumours, private equity groups and/or asset strippers would take advantage of the dent in confidence and share price to beat the governments to it, and bag a bargain.

FannyMae, NR etc were TOXIC. No-one wanted to risk putting good money after bad. Nationalisation was just about the only option left.

Lynt_3

ad44downey wrote: »

sleepless nights for the sake of £100? You're having a laugh, aren't you?

Of course it isn't the £100 that's giving me sleepless nights. :rolleyes:
It is trying to find somewhere to put a lump sum I will be receiving in a few days, and also worrying about my mum's savings which I manage for her.

I guess it's a bit easier for those experienced in all this. My husband was the one who managed our finances. He died. It's now down to me.
I am finding it quite difficult to know what is the best way forward.

A huge learning curve, which I can't say I'm enjoying.

cheerfulcat

Hello, Lynt,

If you are really worried to the point of losing sleep, I'd suggest that you forget about the best interest rates and look for security instead.

NS&I index linked certificates aren't too bad a deal and all of the NS&I products are backed by the Treasury, so should be 100% safe.

The Irish government has guaranteed ( for two years ) all deposits with Irish banks to 100,000 Euros, so the Post Office " Growth Bond " , provided by the Bank of Ireland, might be of interest.

jack111

If you have a large lump sum distrubute your risk.
Put it in different banks
Barclays, lloyds, hsbc, northern rock, irish banks [have 100% gaurantee],
KE, Icesave, postoffice.
You will have to make the call on percieved risk versus profitability.
If you are a worrier than go for banks with 100% guarantees [though nothing is 100%] i.e the postoffice , irish banks, northern rock [northern rock is not 100% but nationalised ].

But look at this way................ say any western european government lets one of its banks go bust and savers ended up losing their money . Within hours of such news almost all foreign savers will be withdrawing their money from that particular countries banks. The implications to their economy would be castastrophic.
The irish government intervened when depositors started withdrawing money.

So I am sure many more banks are going to run into problems but the governments are going to intervene and rescue them in such a way depositors donot lose money.
example - Northern rock, B&B, HBOS, Glitnir, Dexia, Fortis etc

Lynt_3

cheerfulcat wrote: »

Hello, Lynt,

If you are really worried to the point of losing sleep, I'd suggest that you forget about the best interest rates and look for security instead.

NS&I index linked certificates aren't too bad a deal and all of the NS&I products are backed by the Treasury, so should be 100% safe.

The Irish government has guaranteed ( for two years ) all deposits with Irish banks to 100,000 Euros, so the Post Office " Growth Bond " , provided by the Bank of Ireland, might be of interest.

Thanks cheerfulcat. I will look into these.

Lynt_3

jack111 wrote: »

If you have a large lump sum distrubute your risk.
Put it in different banks
Barclays, lloyds, hsbc, northern rock, irish banks [have 100% gaurantee],
KE, Icesave, postoffice.
You will have to make the call on percieved risk versus profitability.
If you are a worrier than go for banks with 100% guarantees [though nothing is 100%] i.e the postoffice , irish banks, northern rock [northern rock is not 100% but nationalised ].

But look at this way................ say any western european government lets one of its banks go bust and savers ended up losing their money . Within hours of such news almost all foreign savers will be withdrawing their money from that particular countries banks. The implications to their economy would be castastrophic.
The irish government intervened when depositors started withdrawing money.

So I am sure many more banks are going to run into problems but the governments are going to intervene and rescue them in such a way depositors donot lose money.
example - Northern rock, B&B, HBOS, Glitnir, Dexia, Fortis etc

Thanks Jack. Plenty to think about in your reply.
Good of you to take the time.
Lyn