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Bradford & Bingley are DOOMED !

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Comments

  • TTMCMschine
    TTMCMschine Posts: 684 Forumite
    aardvaak wrote: »
    Should I still use my option to buy the rights issue?

    Depends whether you think they're worth the risk. They made most of their profits through BTL mortgages & other mortgages - since mortgage approvals are down by some ghastly figure & its not likely to get better any time soon, do you think they can continue in their current form & at their current size, or do you think performance is likely to get worse?
  • SouthCoast
    SouthCoast Posts: 1,985 Forumite
    Should I still use my option to buy the rights issue?

    Throwing good money after bad?
  • ad44downey
    ad44downey Posts: 2,246 Forumite
    Bradford and Bingley shares finish down 16% today alone to only 42 pennies a share.

    Somebody has got to rescue this turkey very quickly before things are too late.
    Krusty & Phil Madoff, 1990 - 2007:
    "Buy now because house prices only ever go UP, UP, UP."
  • poppy10_2
    poppy10_2 Posts: 6,588 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Poor B&B.

    If this were a dog, it would have been put down by now.


    21jouav.jpg
    poppy10
  • Neillgb
    Neillgb Posts: 574 Forumite
    Neillgb wrote: »
    Yes , not much of a nest egg now is it. Myself I would just chuck the certificate in a draw and forget about it for a year!. Worse case scenario is you lose £100.

    Ooooppps. Bad advice!! Sorry, might still work out, who knows now.
  • Neillgb
    Neillgb Posts: 574 Forumite
    lix wrote: »
    Better to lose 15% now rather than 100% in the next few months.

    Look out below! BRADFORD & BINGLEY (BB.L) At 12:18PM : 42.75 p Down 7.25 (14.50%)

    Good advice!!
  • lix_2
    lix_2 Posts: 11 Forumite
    poppy10 wrote: »
    Poor B&B.

    If this were a dog, it would have been put down by now.


    21jouav.jpg
    Quite. Not long left to act now people BRADFORD & BINGLEY (BB.L) At 8:41AM : 34.25 p Down 7.75 (18.45%)

    Remember the FSCS makes no promise as to the timescales that will be needed to repay your deposits. They can only levy £4 billion per year and it all has to come from other institutions, who aren't exactly flush at the minute.

    http://www.moneysavingexpert.com/savings/safe-savings
  • ad44downey
    ad44downey Posts: 2,246 Forumite
    As at 9 a.m. today Bradford and Bingley shares down 19%

    It shouldn't be too long now before this turkey is put out of its misery.
    Krusty & Phil Madoff, 1990 - 2007:
    "Buy now because house prices only ever go UP, UP, UP."
  • Premier_2
    Premier_2 Posts: 15,141 Forumite
    10,000 Posts Combo Breaker
    aardvaak wrote: »
    Should I still use my option to buy the rights issue?
    You can if you want, but assuming you think the shares are a good investment, wouldn't it be better to buy them at half the price on the open market? :confused:

    Anyone know if there is still a market in selling the rights to the rights issue? If so, whats the current selling price?
    "Now to trolling as a concept. .... Personally, I've always found it a little sad that people choose to spend such a large proportion of their lives in this way but they do, and we have to deal with it." - MSE Forum Manager 6th July 2010
  • ad44downey
    ad44downey Posts: 2,246 Forumite
    The darling of buy to letters, B&B, takes a right pasting today.

    Total carnage. Bradford and Bingley shares finish down 18% today.
    Krusty & Phil Madoff, 1990 - 2007:
    "Buy now because house prices only ever go UP, UP, UP."
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