DFW Running Club!!

RichOneday_2

beinerts wrote: »

Slightly off topic, but we are fast approaching 4000 posts on this thread. The first half of those were posted over the period of a year, the second half in just 3 months (so far). I'm sure most of Rich's posts are included in that!

I've only been in 3 weeks, don't be blaming me!

Look at all that nocturnal activity last night for instance!

Idiophreak

RichOneday wrote: »

It must be fascinating being in the middle of it all!!

I always thought it would be fascinating to be in the middle of a twister, too - probably much the same thing

sallyx

RichOneday wrote: »

I've only been in 3 weeks, don't be blaming me!

Look at all that nocturnal activity last night for instance!

I think its great, its really got me focused on running again, thanks everyone

beer_tins

RichOneday wrote: »

Beer Tins,

What are the rumours re Morgans Stanley which seems to have just gone 'in play'. Will the speculators push it under by the end of the day? (There will be no rescue for this one so it would be a major name gone!).

Also, I see Al Italia has effectively just gone under a few minutes ago.

It must be fascinating being in the middle of it all!!

RE: Morgans, yes it might indeed be people talking the stock down while shorting their own positions. Every time we see it people say how terrible it is and something needs to be done to stop the practice, but in reality it's almost impossible to prove. I'm sure this happened to some degree to HBOS. HBOS had a huge share issue to cover some of their mortgage lending earlier this year, so I find it hard to believe they were really in as bad a position as everyone said. No one knows for sure about Morgans, but if enough people say it's going to go under, it can become a self fulfilling prophecy in times like these.

RE: Alitalia, yep it looks like it, but I wouldn't be surprised if the Italians bail them out. The European competition watchdog may cry foul, but the Italians can always point to what everyone else has been doing with the banks and claim they are doing no worse.

beer_tins

Idiophreak wrote: »

I always thought it would be fascinating to be in the middle of a twister, too - probably much the same thing

Quite! I'm just happy I'm not a banker so can watch with only slightly nervous interest!

RichOneday_2

beinerts wrote: »

RE: Morgans, yes it might indeed be people talking the stock down while shorting their own positions. Every time we see it people say how terrible it is and something needs to be done to stop the practice, but in reality it's almost impossible to prove. I'm sure this happened to some degree to HBOS. HBOS had a huge share issue to cover some of their mortgage lending earlier this year, so I find it hard to believe they were really in as bad a position as everyone said. No one knows for sure about Morgans, but if enough people say it's going to go under, it can become a self fulfilling prophecy in times like these.

RE: Alitalia, yep it looks like it, but I wouldn't be surprised if the Italians bail them out. The European competition watchdog may cry foul, but the Italians can always point to what everyone else has been doing with the banks and claim they are doing no worse.

Fair summary.

It was interesting how Andy Hornby was saying this morning that he decided the game was up for HBOS when they realised the wholesale money markets were simply not going to open up again to function in the way they have in the past. So their oxygen was cut off.

He said he had no option other than go to the government and see if they would waive anti-monopoly rules. And they had no choice in saying yes!

So if that was the reason - it can happen to any bank.

beer_tins

BTW it seem that it's the unions that have opposed the Alitalia takeover as it may mean job cuts. May turn out to be an extremely costly gamble if they all end up losing their jobs.

RichOneday_2

beinerts wrote: »

BTW it seem that it's the unions that have opposed the Alitalia takeover as it may mean job cuts. May turn out to be an extremely costly gamble if they all end up losing their jobs.

Hmmmmm!

Curious.

That would be the same as the unions opposing the HBOS takeover - but they are not that daft!

beer_tins

RichOneday wrote: »

Fair summary.

It was interesting how Andy Hornby was saying this morning that he decided the game was up for HBOS when they realised the wholesale money markets were simply not going to open up again to function in the way they have in the past. So their oxygen was cut off.

He said he had no option other than go to the government and see if they would waive anti-monopoly rules. And they had no choice in saying yes!

So if that was the reason - it can happen to any bank.

Oh yes. Once the money supply grinds to a halt, even banks with otherwise sound business practices can go under as a result. Personally I think the best way out is to massively increase the size of these "slush funds" the banks seem to have been setting up to help the flow of money. Interesting times. Drastic measures required.

RichOneday_2

beinerts wrote: »

Oh yes. Once the money supply grinds to a halt, even banks with otherwise sound business practices can go under as a result. Personally I think the best way out is to massively increase the size of these "slush funds" the banks seem to have been setting up to help the flow of money. Interesting times. Drastic measures required.

The drastic measures are the likes of the £100billion pumped in by the central banks last night.

Its almost like the speculators just laugh, say 'so what?', and look for the next target!