Northen Rock [Merged Threads]

[Deleted User]

Ian_W wrote: »

Interesting quote for those slamming NR's irresponsible lending blah, blah:

"Despite the funding problems, there's no doubt that the operational side of the business is excellent, and arrears on its mortgage book are about half the industry average, so there are definitely good parts," said James Irvine, an analyst at Dresdner Kleinwort.

NR hasnt been doing liar loans for ever it only recently that the percentage of liar loans has ramped up with higher house prices, with the interest rates that NR will have to charge to try and keep the share price up I dont hold out much hope for them. Lots of defaults over the next 5 years I expect it to fall exponential in form.

[Deleted User]

Q+A from BBC website -

http://news.bbc.co.uk/1/hi/business/6994746.stm

I think the executives must be out the window by now...

more bank scandal exposed...

http://uk.biz.yahoo.com/14092007/35/conned-conduits.html

purch

any money the BOE creates will be from absolute thin air

.........what are you ranting on about ??? :eek:

The Bank of England is LENDING NR money........

Not giving it !!! Not creating it !!!

[Deleted User]

purch wrote: »

.........what are you ranting on about ??? :eek:

The Bank of England is LENDING NR money........

Not giving it !!! Not creating it !!!

Where does the BOE get its money from? As far as im aware it creates it as a promise.

Former_MSE_Dan

As this question has come up in the last few pages a couple of times, i thought i'd wade in and let you know what the FSCS people have told us.

As long as the institutions you are with are FSA-registered in their own right, you will receive the compensations for each institution you are with.

i.e. Tesco is FSA-registered, and RBS is FSA-registered, so if both banks went bust (!) you would receive the obligatory FSCS compensation (£31,700 of the first £35,000) for each of them as seperate entities, despite them being part of the same financial group.

PauliPauli

http://www.lse.co.uk/MacroEconomicNews.asp?ArticleCode=78ydluxrucgoe4m&ArticleHeadline=a&l_bradford_&_bingley_see_no_threat_from_credit_crunch

looks like B&B only 25% exposure to wholesale markets against NR's 75% .... I'll keep my ISA where it is .. "sound as a pound" :T

Lavendyr

purch wrote: »

The Bank of England is LENDING NR money........

Not giving it !!! Not creating it !!!

Where do you think the money comes from? BoE literally *prints* the money. Hence the "unlimited" supply. However the more they print, the higher inflation will rise.

Twopints

It doesn't work like that..

irnbru_2

Twopints wrote: »

It doesn't work like that..

What doesn't work like that?

ramborai1987

ive just invested 300 pound in northern rock at 440p with the idea of investing another 300 on monday.

do you guys think that was a good idea?

i mean their value is extremely low and i cant see them going bankrupt.

even if they fall again i wouldnt mind, but i would like to see them making good increases in the long term.