Bradford and Bingley

deaglecat

There really is no need for a run on BB.. or indeed any other bank. But what we need is confidence that the protection measures are in place to protect savers.

There is a £4b per annum capacity of the FSCS to levy banks in a compulsory manner. This will tale time to administer and to be honest the other struggling banks need a compulsory levy like a hole in the head.

So, it boils down to a battle of nerves between the Govt and the banks as to who pays out in the event of a bank failure - for Northern Rock, it was the Govt that (quite rightly) chose to act as the "least bad" of a whole load of unpaletable actions .

Future outcomes are frankly not clear in this regard.

Banderman

Breaking News:

http://www.bbc.co.uk/blogs/thereporters/robertpeston/

It loks like someone is trying to save B&B from going t*its up

yung

I suppose because this Government is very generous with our money. every bank expecting their profit to go down is going to try it.

poppy10_2

meanmachine wrote: »

Expect this one to be taken over soon. But by whom? And for how much?

By private equity group TPG, for 50p a share.

Well predicted :T

bristolleedsfan

Shares have been suspended, surely same thing should have occurred with NR shares when its difficulties were first publicised.

mjr600

If the B&B was going to 'crash' why on earth would a US company purchase a 20% stake for £150m, surely they must see the B&B as a long term investment ?

Biggles

There we have our answer, then.

23% stake in company being taken by a US private equity firm with a hot record, and restructuring of the rights issue with a new price of 55p.

Interesting, and providing a new floor for the share price!

mjr600

Any chance of indicating where you get your news so fast ?

Biggles

mjr600 wrote: »

Any chance of indicating where you get your news so fast ?

www.advfn.com or www.investigate.co.uk

johnbfan

Anyone on here actually have any savings with them?