Bradford & Bingley shareholders strike back!

ChiefGrasscutter

geoffky wrote: »

Jesus wept..i wonder if i scream loud will someone give me back the estimated 80k i have lost in the last 3 years due to interest rates..i doubt it and i also doubt you have a case...it is sad because savers are paying for the reckless borrowers..

So let me see
£80K over 3 years -that £26K per year.
Lets work in gross figures - and ignore tax issues
Typically at peak interest rates you could get 6.5% now you can get 3.5% - depending on how much was in fixed/easy access. So that a difference of 3.0%.
OK so £26K per year drop with a drop in rates of 3% is roughly equivalent to an liquid asset base in banks/building Societies of £875000.

King_Of_Bling

ChiefGrasscutter wrote: »

So let me see
£80K over 3 years -that £26K per year.
Lets work in gross figures - and ignore tax issues
Typically at peak interest rates you could get 6.5% now you can get 3.5% - depending on how much was in fixed/easy access. So that a difference of 3.0%.
OK so £26K per year drop with a drop in rates of 3% is roughly equivalent to an liquid asset base in banks/building Societies of £875000.

geoffky did say "estimated 80k i have lost in the last 3", i guess it was a wild estimate

Thrugelmir

King_Of_Bling wrote: »

This is interesting, didn't B&B organise a rights issue when they were insolvent? So, shouldn't the CEO and board have been brought before the courts for fraud?

FSA is going to investigate HBOS.

Lloyds Banking Group has revealed the focus of the Financial Services Authority’s investigation into Halifax Bank of Scotland will be on the Bank of Scotland’s corporate division.

In Lloyds Banking Group’s interim report last week, the firm detailed how the FSA has commenced enforcement proceedings against Bank of Scotland.

The report reads: “In 2009 the FSA commenced a supervisory review into HBOS. The supervisory review has now been superseded as the FSA has commenced enforcement proceedings against Bank of Scotland plc in relation to its corporate division pre-2009.

“The proceedings are ongoing and the Group is co-operating fully. It is too early to predict the outcome or estimate reliably any potential financial effects of the enforcement proceedings but they are not currently expected to be material.”

Could form the basis of Lloyds shareholders pursuing the Government.......

ffacoffipawb

Thrugelmir wrote: »

FSA is going to investigate HBOS.



Could form the basis of Lloyds shareholders pursuing the Government.......

Could form the basis of Lloyds shareholders pursuing Gordon Brown.

experience08

Thrugelmir wrote: »

FSA is going to investigate HBOS.
Could form the basis of Lloyds shareholders pursuing the Government.......

Did HBOS have a rights issue before LloydsTSB was sweet talked by that loser Brown into taking them over (or was it after, can't remember)? Is this what the FSA investigation is concentrating on?

geoffky

ChiefGrasscutter wrote: »

So let me see
£80K over 3 years -that £26K per year.
Lets work in gross figures - and ignore tax issues
Typically at peak interest rates you could get 6.5% now you can get 3.5% - depending on how much was in fixed/easy access. So that a difference of 3.0%.
OK so £26K per year drop with a drop in rates of 3% is roughly equivalent to an liquid asset base in banks/building Societies of £875000.

not too far off..

opinions4u

experience08 wrote: »

Did HBOS have a rights issue before LloydsTSB was sweet talked by that loser Brown into taking them over (or was it after, can't remember)?

A fully subscribed £4bn.

Think they underestimated a tad!

Is this what the FSA investigation is concentrating on?

No idea.

hallmark

Brown etc should certainly be investigated (at the very least) for the dodgy dealing that went on when he "saved the world".

For starters the Lloyds HBOS deal was only voted through because the overwhelming majority of Lloyds shareholders were also HBOS shareholders (i.e. funds - no small Lloy shareholder wanted that deal, I know dozens personally & without exception they were all against it). But there were other more directly illegal things going on. For instance, throughout that time Nulabor used Robert Peston to feed information (massively shareprice affecting information) out to the public. There's a legal mechanism for that - the RNS system - & it was completely circumvented. A joke of a stitchup from start to finish for bank shareholders, in particular Lloyds ones. Anyone who lost decent amounts has the right to be livid.

sabretoothtigger

The HBOS deal will work out in Lloyds favour massively if the various regulators will just stop hacking bits out of the company.
Brown gave the nod that it would go ahead despite previous rulings being against giant bank mergers in the UK.

All they need now is finance to service the debts and a clear run to profit from doubling their customer base, hbos was cheap and that is not normally the case with take overs. All the bad debt increases the price but if they got the finance and ongoing sound business it should be a more profitable lloyds then ever before.

Unfortunately some dont want a massive bank, thats where it can become a disaster that the merger will be a total waste of time and they are forced to split again

Thrugelmir

experience08 wrote: »

Did HBOS have a rights issue before LloydsTSB was sweet talked by that loser Brown into taking them over (or was it after, can't remember)? Is this what the FSA investigation is concentrating on?

Appears not.

n the interim report, Lloyds said: "In 2009 the FSA commenced a supervisory review into HBOS. The supervisory review has now been superseded, as the FSA commenced enforcement proceedings against Bank of Scotland plc in relation to its corporate division pre-2009."

"The proceedings are ongoing and the group is cooperating fully. It is too early to predict the outcome or estimate reliably any potential financial effects of the enforcement proceedings but they are not currently expected to be material," Lloyds said.