Northen Rock [Merged Threads]

xanadu2

sdooley wrote: »

This is the classic trap all small shareholders make. The shares will not go up again just because they were previously worth more.

No, they won't go up to their previous high (when I thought about selling them but decided against it. :mad: ) But when NR has been propped up by the BoE and bought out by some other bank so the present scare is over, won't they be worth a little more than now?

Tomorrow I get hold of my financial advisor.

barak

StevieJ wrote: »

Have I missed something? What has happened to Standard Life?

I think nickj must have been thinking of Equitable Life - and I'm not sure that Barings Bank had any retail customers, did they?

Optimist

barak wrote: »

I think nickj must have been thinking of Equitable Life - and I'm not sure that Barings Bank had any retail customers, did they?

Barings was bought by ING for £1 which covered all liability's

melbury

caveman38 wrote: »

If as predicted after the continuing run of savers withdrawing their funds and the great many more in the post cashing in theirs. That the NR in the near future will be unable to continue trading in their own name and will ultimately be bought out when the share price has hit rock bottom.
Will the new owners honour all the savings or pass that side of things over to the FSA.
We the savers (if it still is a we) are still in a gamble situation. Cash in and lose interest or trust that our saving will be honoured in full by the new owners.
What do you pro's think?

Caveman, as you know from posts yesterday, I am in the same position as you with two fixed rate bonds and the prospect of losing a big chunk of life savings. I only returned from a fortnights holiday yesterday and so have only just really caught up with the significance of what is going on. From everything I have read I really think it is too late now to try and get the bonds cashed in amid all of the panic and chaos. I just feel in my water that something will happen VERY quickly now as NR definitely seem to have been brought down. Wouldn't be surprised if something is announced in the next day or two, they just can't let it go on like this. I just hope that we all come out of this with our money back - after all Gordon did assure savers that they wouldn't lose out. Problem is, where to then? If a bank as big and successful as NR can crumble surely others must follow! Just wish I hadn't invested everything with them, but as usual hindsight is a fine thing.

isofa

xanadu2 wrote: »

No, they won't go up to their previous high (when I thought about selling them but decided against it. :mad: ) But when NR has been propped up by the BoE and bought out by some other bank so the present scare is over, won't they be worth a little more than now?

Tomorrow I get hold of my financial advisor.

We'll have to see, I guess it depends on what happens if they are taken over, or if parts of the business are broken up, I've no idea what happens to the shares if various parts are split up...

With the current run on the accounts, it's ripe for takeover now, and will be at a bargain price, hanging onto my shares to see what happens, no point selling now, they've lost to much.

(According to the Sunday papers, NR tried to get Lloyds TSB to launch a bid before the BoE stepped in and stopped it (before everything went mad), and then the BoE offered the funding)

roddydogs

Just wondered why weve not had any "pensioner robbed of NR cash" yet? shorley only a matter of time with all those old folk clutching their fistfuls of £20 notes being broadcast at evey news break!:mad:

dougs

what a pointless thread

your post could easily have been added to the current NR thread anyway

caveman38

The panic among savers who are withdrawning their funds could be stopped even now. All that needs to be done is for the BOE or Government to guarantee 100% of savers money and not just the FSA safety net of £31.7 max.
I know it would convince me who is still in two minds of what to do.

payless

My thoughts exactly... as I was watching A Darling was on TV this morning, although of course this would then lead to all customers wanting the same for all deposit takers.. and at some point the BofE would decline , making a 2 tier system

wombat42_2

caveman38 wrote: »

The panic among savers who are withdrawning their funds could be stopped even now. All that needs to be done is for the BOE or Government to guarantee 100% of savers money and not just the FSA safety net of £31.7 max.
I know it would convince me who is still in two minds of what to do.

Yes but I am sure plenty of NR customers are withdrawing who have less than 30K saved with them.