Are your savings safe? article discussion

GustyGardenGalaxy

So, time to stuff the mattress with large denomination bank notes eh?

ad44downey

c0113tt3 wrote: »

My feeling is to watch share prices of Lloyds tsb, and if they start dropping to say less than £2 to £1.50, then its time to bail out. Yes watching shares isnt an ideal way to judge, but is usually a sign.

What do you think?

If Lloyds/hbos goes down the last thing you'll have to worry about is money. It won't be worth anything anyway. We''ll be like Zimbabwe. There's no point scaremongering like this, you've got to live your life, otherwise you'd never go outside your front door.

GustyGardenGalaxy

ad44downey wrote: »

If Lloyds/hbos goes down the last thing you'll have to worry about is money. It won't be worth anything anyway. We''ll be like Zimbabwe. There's no point scaremongering like this, you've got to live your life, otherwise you'd never go outside your front door.

Well said.

c0113tt3

The post i made isn't scaremongering, it is based purely on fact.

As for money not being worth any thing etc.. heh that is scaremongering, as there are no facts supporting that argument for the uk.

GustyGardenGalaxy

A lot of scremongering is 'based on fact', but it's not based on ALL the facts, just those which support the person's argument.

GeorgeHowell

chris1 wrote: »

What's the betting they keep separate registrations to start with then later (when no-one's paying attention) combine them...:rolleyes:

Would not be at all surprised to see that happen. Those of us who follow websites like this will be aware of it, but less well-informed savers may not be so fortunate.

GeorgeHowell

roddydogs wrote: »

Totally agree with the above post, why do posters keep parroting the "£35,000" rule as if its cast in stone? Where precisely would the Fscs, or the government get all these Squillions of pounds to pay out if several Banks went belly up? Discuss.

Why do tyres squeal in Car Parks?

I think it has to be realised that if a bank goes belly up through short term insolvency, then its net assets are unlikely to be zero. It will have debtors and collateral to call in (including repossessed homes), which may or may not be sufficient to cover all of the up-to-£35000 claims, but would no doubt make a big contribution towards them. However if the insolvency of a number of banks reached a critical level then it is not out of the question for HMG to be unable or unwilling to guarantee deposits over the £35,000 level. The number of people so affected would be relatively small, and they can say, with justification, "You were warned." That's why I think it is advisable to stick to the £35000 limit to the letter, and that it's not scaremongering to say so.

DocProc

"The Times reports that U.K.’s leading 5 high street banks have as much as £95.3 bln ($175 bln) of distressed assets on their books that may qualify for the American bailout scheme. If the banks tapped the fund to the maximum they could soak up a quarter of the $700 bln available."

Hmmm? I really don't think the US tax payers are going to like that too much.

Nice for us though, eh?

Hehehehehe.

http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article4828413.ece

DocProc

Save with a bank in Ireland, eg, Anglo Irish Bank

Under the Irish Deposit Protection Scheme compensation is €100,000 or about £80,000

http://www.itsyourmoney.ie/index.jsp?1nID=93&2nID=96&pID=145&nID=385&aID=0

JoanWitness

Bradford & Bingley.

Today ther shares are priced at 18.25 a share,worth £263 million.
Yet according to the news at the weekend they have mortgage
assets of 52 Billion.

Does this mean that another bank could buy them for £263 million.

If they went bust how much would the Government have to pump in to save them. It cost the Government 25 Billion to bail out Northern Rock.

Can someone explain these figures to me?