Northen Rock [Merged Threads]

mrp45

i'm not so sure, because i remember the BCCI thing when that went under and everyone lost their savings... I'm moving my savings in case, that's for sure!

Old_Slaphead

And while we're at it Alliance & Leicester's shares have looked a bit icky of late - are they in the same boat or is that just the froth of bid speculation coming off?

nilrem_2

mrp45 wrote: »

i'm not so sure, because i remember the BCCI thing when that went under and everyone lost their savings... I'm moving my savings in case, that's for sure!

You cannot compare BCCI with British banks and Building societies!

BCCI handled money from money-launderers and terrorists, inc drug money from Colombia and Panama, funding for the Mujahideen in Pakistan, and Abu Nidal in the Middle East all flowed through its coffers.

islandannie

looks like NR are having a bit of a run on them.

Their site is busy at the moment and they are limiting access HMMMMMMMM!

Ian_W

mrp45 wrote: »

i'm not so sure, because i remember the BCCI thing when that went under and everyone lost their savings... I'm moving my savings in case, that's for sure!

You don't remember it very well then.
It only had about 6500 creditors in the UK.
See WICKY
or BBC

NR has about £114billon in assets, as against £24billion in retail deposits.

webdeepak

I have been having this discussing on
http://forums.moneysavingexpert.com/showthread.html?t=545211
for some time.

Your responses are welcome.
Make me angry, when some people responded so late.

MarkyMarkD

NR is NOT going to go bust.

People panicking and withdrawing their funds makes matters worse, not better, and doesn't help anyone.

webdeepak

Funny, MarkyMarkD I have heard you say that before.
Following forum should tell you why
http://forums.moneysavingexpert.com/showthread.html?t=545211

I think you should come out of the deep sleep you are in Or more fundametally Do you work for Northern Rock?

Also I say again, if hasn't happened before does not mean it can't happen now.

Labman_2

A totally irresponsible thread.

WTF?_2

MarkyMarkD wrote: »

NR is NOT going to go bust.

People panicking and withdrawing their funds makes matters worse, not better, and doesn't help anyone.

Good advice Mark - in fact, why not transfer some of your personal savings to Northern Rock to show solidarity :rolleyes:

Northern Rock are notorious for their willingness to give out loans 'no questions asked'.

Despite the breathless guy on the BBC News assuring us that everything was above board, I suspect that their current predicament is not entirely unrelated to the relatively 'accommodative' stance that they took towards lending people extremely large amounts of cash without digging too deep into whether or not they could afford to repay.