Next leg of banking collapse underway

baby_boomer

£33,000 per taxpayer :eek:

is one way of calculating an estimated £200m further funds to underwrite the banks.

Telegraph front page

"The taxpayer will be forced to underwrite up to £200 billion of bad banking debt under a government plan to take control of assets belonging to Britain's major high street lenders......"

I pity Blair's students. He saddled them with £35K debt for going to university. Now they've got this millstone heading their way. And they've got to maintain the baby_boomers through our retirement. And that's before they try to buy property, assuming they ca find a job - never mind one which will pay for their degree.

I wonder if they'll be fans of high tax government .

bubblesmoney

baby_boomer wrote: »

£33,000 per taxpayer :eek:

is one way of calculating an estimated £200m further funds to underwrite the banks.

Telegraph front page

"The taxpayer will be forced to underwrite up to £200 billion of bad banking debt under a government plan to take control of assets belonging to Britain's major high street lenders......"

I pity Blair's students. He saddled them with £35K debt for going to university. Now they've got this millstone heading their way. And they've got to maintain the baby_boomers through our retirement. And that's before they try to buy property, assuming they ca find a job - never mind one which will pay for their degree.

I wonder if they'll be fans of high tax government .

they could always leg it elsewhere where they wont have to finance this debt provided they have 'in demand' qualifications and experience. dont ask me where elsewhere is though.

chucky

Laughing_man wrote: »

Thats a little trite. The clever people in finance have been doing some very hard sums to try and work this out, it's not hard to find an upside on twenty cents on the dollar and still they're not buying. That should really say something to you about the bottom line on this stuff.
Edit: Investors are accepting record low yields on U.S long term treaury debt, why take this if there is a potential 20-150% return on undervalued mortgage assets that everyone wants to sell now in the same period? It's easy to dust off the old 'no-one has a crystal ball' line but given this set of facts do you really think big writeups are just around the corner?

If you like this board check out http://www.tickerforum.org/cgi-ticker/akcs-www?forum=Breaking and especially read Karl Deniger's blog http://www.tickerforum.org/cgi-ticker/akcs-www?forum=Ticker This guy makes Generali look like a simpleton.

i think you're on the wrong forum my friend - you should be onwww.housepricecrashfornutters.com

Laughing_man

chucky wrote: »

i think you're on the wrong forum my friend - you should be onwww.housepricecrashfornutters.com

The 'doom mongers are crazy' meme is a bit 2006 don't you think?

I do read the HPC news blog and post there sometimes, while the lunatic fringe is more in evidence I don't really see that its that much different from the regular posters here who slectively interpret the information available to fit the 'silver lining' agenda- two sides of the same coin if you ask me. The only reason I post at all is as a surrogate for conversations that good form prevents me from having IRL.

Ticker forum is way ahead of both though, it's mainly for day traders who only really care about finding value to trade on and consequently the reporting and analysis you find in threads there is several levels above the pub opinion you find here or on HPC.


Anyway since I currently have a higher thank ratio than you it would seem this forum prefers my voice to yours, I think I'll hang around.:cool:

Conflict

Laughing_man wrote: »

Ticker forum is way ahead of both though, it's mainly for day traders who only really care about finding value to trade on and consequently the reporting and analysis you find in threads there is several levels above the pub opinion you find here or on HPC.

The Ticker forum though is full of the most dangerous kind of nutter though - the one with a brain, hence why a lot of the threads are full of stuff bordering on conspiracy theories. One thing though for the nutters at ticker they do find some damn good info, its just a fair few of them paint any news out to be the end for the company/country/world.

chucky

Laughing_man wrote: »

Anyway since I currently have a higher thank ratio than you it would seem this forum prefers my voice to yours, I think I'll hang around.:cool:

yes - you're probably right about the Thanks count, that is what we all strive to achieve :beer:

Laughing_man

Conflict wrote: »

The Ticker forum though is full of the most dangerous kind of nutter though - the one with a brain, hence why a lot of the threads are full of stuff bordering on conspiracy theories. One thing though for the nutters at ticker they do find some damn good info, its just a fair few of them paint any news out to be the end for the company/country/world.

Depends on your definition of nutter and full, I suppose. It's still an internet forum and a certain amount of retardedness is to be expected. Even then it's still of a higher order than 'no one has a crystal ball' and 'I just don't see it' variety you get here.

KD's blog and his analysis of the TARP in particular has proved to be spot on so far, plus the guy got rich trading his view of the markets so he may not be that deranged.

Laughing_man

chucky wrote: »

yes - you're probably right about the Thanks count, that is what we all strive to achieve :beer:

It's certainly better than making yourself feel superior by calling out someone as HPC nutter, imo.

mewbie_2

Laughing_man wrote: »

It's certainly better than making yourself feel superior by calling out someone as HPC nutter, imo.

I think you'll find Thanks mean very little in terms of how valid your statements are. HPC nutter is quite reasonable really, and the feeble minded doom mongers who inhabit this board have happily reclaimed that expression as their own.

baby_boomer

This disease seems to get everywhere

Yahoo - German banks face billions more in losses

"......[SIZE=-1]Germany's respected Der Spiegel weekly based its report on a survey of 20 banking institutions carried out by Germany's central bank, the Bundesbank, and the financial market watchdog Bafin.[/SIZE] [SIZE=-1]

The survey revealed that German banks possess 300 billion euros (400 billion dollars) in toxic assets and have so far only written off the most rotten, which represent a quarter of the total, the report said.[/SIZE] [SIZE=-1]"The remainder is still registered in accounts at illusory values," said Der Spiegel.....[/SIZE]