Northen Rock [Merged Threads]

wombat42_2

Lavendyr wrote: »

Personally, assuming interest rates are round about equal, I would always try to keep any savings in any one account under the threshold covered by the FCS, i.e. £2000 + £33000, as anything above that is not covered should the company holding your savings go bust.

I personally think this FCS limit thing is paranoia. It makes life very complicated having several separate accounts to meet FCS limits.

bluegrover

IMHO I would get your money out now. Have you heard of BCCI? Lots of people lost their money. They can't keep a failing company going for ever. The share price has plummeted from 1300p to 500p, that's not a good sign.

isofa

bluegrover wrote: »

Do either of you have savings at the bank?
Why leave your money with a bank that is at risk when there's many other places, probably offering better rates of return and security, so i disagree is scaremongering.

I have some savings at NR and also I hold shares in them. I have no intention of withdrawing my money, nor selling my shares.

This is still a totally irresponsible post, and will make matters worse not better.

Wombat42 explains the situation, it has nothing to do with solvency, and you are not going to loose the money you have in accounts.

[Deleted User]

Yep worse for teh last people out that will lose everything

wombat42_2

bluegrover wrote: »

IMHO I would get your money out now. Have you heard of BCCI? Lots of people lost their money. They can't keep a failing company going for ever. The share price has plummeted from 1300p to 500p, that's not a good sign.

Yes it is the shareholders who are getting zapped but not savers

purch

Remember BCCI!

Yes I do....Do You ?????

I was a Professional trader at the time for a large U.S. Bank, and I REMEMBER that the situation BCCI were in, ( and were allowed to get into by a lax regulatory regime ) was totally different to that surrounding Northern Rock or any other U.K. Bank at this time ( supported by a much stronger and more robust regulatory regime )

And remember..........cos I am sure you DON'T have a clue........... that B.C.C.I. did not go BUST.............it was put out of business in London by the Bank of England !!!!!!!!!

dunstonh

bluegrover wrote: »

IMHO I would get your money out now. Have you heard of BCCI? Lots of people lost their money. They can't keep a failing company going for ever. The share price has plummeted from 1300p to 500p, that's not a good sign.

Obviously, you haven't heard of BCCI and you havent got a clue about what you are posting.

Dithering_Dad

There were two types of people on the Titanic - those who ran to the life boat when the ship struck the iceberg (let's call em 'survivors') and those who stood about saying "don't be silly, this ship is unsinkable" (lets call them 'victims').

If I were a NR customer, I'd have my life jacket on and be telling the women and children to "make some room".

skid112

http://www.fsa.gov.uk/pages/Library/Communication/PR/2007/102.shtml
for all those worried.
the FSA judges that NR is solvent and exceeds its regulatory capital requirement.

Optimist

bluegrover wrote: »

IMHO I would get your money out now. Have you heard of BCCI? Lots of people lost their money. They can't keep a failing company going for ever. The share price has plummeted from 1300p to 500p, that's not a good sign.

New poster and you have posted the same irresponsible comments on all your posts to present :mad: