Bradford & Bingley are DOOMED !

[Deleted User]

I've just opened a load of new accounts to spread the risk so that I don't have all my eggs in one basket.
And one of them was with the B&B dammit!!!

Neillgb

Nothing to worry about folks.

Mr Darling says the banks are just "restructuring".

The Americans aren't stupid though so perhaps it won't be another Northern Rock. Would'nt want to be a B & B employee though, or a shareholder for obvious reasons.

SquatNow

Am I the first to call a run on B&B?

Wait for the queues of OAPs desperate to get their cash back, stood outside at 3am. In fact I think I'll getup at 6 tommorrow with some friends and go and stand outside for a few hours.

LillyJ

I have Bradford and Bingley shares! From when they turned to a bank (I was just a kid at the time).
I was a bit silly not to sell at their high last year but I can't see the future. They are worth so little now (about £350) that I might as well keep them and see what happens. The money wasn't mine to start with, they gave them to me, so if I "lose" it all then I've not really lost anything (which to be fair I imagine I might!). All the dividends over the years have been quite nice though, especially when I was a student.

On the savings front, surely people who have more than the safe amount of 30 whatever thousand have spread it about? I can't imagine being so stupid as to put more than that in one organisation? So people waiting outside the shop are a bit barmy if you ask me, and all it leads to is people not being able to get money out for day to day things due to the lack of bank notes available. (like happened with NR).

LillyJ

Also I don't think people should be happy that "stupid lending" has caused this and it is going to help the crash etc etc, it is the employees that I feel sorry for, what a terrible time these people must be going through.

ps646566

None of this would be happening if they'd stayed as good old building societies, instead of converting to banks and letting the get-rich-quick wide boys call all the shots.

Robinmsa

I sold my free shares about 3 years ago, and ended up selling at about £4.70 ish per share, does anybody thinthat it's actually worth a quick £50, to basically buy them back and see what happens. Bit of a gamble I know.

LillyJ

Robinmsa wrote: »

I sold my free shares about 3 years ago, and ended up selling at about £4.70 ish per share, does anybody thinthat it's actually worth a quick £50, to basically buy them back and see what happens. Bit of a gamble I know.

Oh I wish I had sold mine at that price! But no crystal ball! My sister sold them then and it was a fair amount of money. You did the right thing!

I don't reckon it's worth buying them personally, but then what do I know!

I am hanging on to mine, but I am banking on them going to £0, anything else a bonus.

Actually on that subject could it actually go to 0p? Only if the bank goes bust or otherwise?

Not really clued up on the stock market, just got these free ones!

Robinmsa

I will most probably not get any, but if I were you I'd take the money, sell them at 8am tomorrow morning then at least you have your bonus.

LillyJ

I might do. I just wonder whether they might gain a bit when this American company buys lots of shares? But then again they probably won't! I think I want to wait and see what they do with the rights issue etc first.

I might go and look up what happened to NR shares after the whole debacle and maybe that will help me decide!