Bradford & Bingley are DOOMED !

Neillgb

lostinrates wrote: »

That is true, but their success record is excellent.

Incidently, there was an interesting article in the Money Section of the Sunday Times on contrary investing choices and how many of the seriously successful investors had got that way taking big, seemingly foolhardy gambles on what are contrary to market choices. Banking was mentioned more than once as an investment for now.

So far so good for TPG.

Love to have been a fly on the wall when discussions between B&B board and TPG group hammered out the deal:cool: .

Rabiddog_2

As to what TPG will do .. they will just have a good investment.. they will only own 20%, not enough to call the shots. Some people will be q'ing outside the branches, but they will probably be Pensioners who have less than £36000 in there! I would give them a punt, especially as Neillg has said they have looked at the books and LIKE what they see. Be a contrarian, if for no other reason than it gives us all something to talk about..

napoleon

B+B shares drop over 20% today. Oh dear!!!!

SquatNow

Rabiddog wrote: »

I would give them a punt, especially as Neillg has said they have looked at the books and LIKE what they see. Be a contrarian, if for no other reason than it gives us all something to talk about..

Didn't a B&B deal just fall through because they refused to reveal the finances.

And sharehold OR PROPSPECTIVE shareholder for a company is entitled to walk into the head office and ask to see the account for the last financial year.

WHAT ARE B&B HIDING.

A huge BoE loan if you ask me.

Treadmill

They've most likely already shredded the paperwork Enron style lol

ad44downey

they'll be giving B&B share certificates away in cornflake packets soon enough IMHO

SquatNow

B&B are apprently now worth £400m

That means there are around 600 million B&B shares, worth 63p each.

If each share was printed on a peice of copier paper, the stack would be nearly 58 kilometers/ 36 miles high.

My betting is that the stack of copier paper will be worth more by the end of July.

A couple more companies will come along and offer to buy them, ask to see the books, be refused, and their shares will become toiletpaper. (How think is toiletpaper???)

poppy10_2

SquatNow wrote: »

WHAT ARE B&B HIDING.

A huge BoE loan if you ask me.

Exactly. That's the only thing keeping them afloat, only we the public aren't allowed to know about it in case we panic our poor little heads off like last time with NR.

FraudBuster

As the UK has no sub-prime lending, why are they hiding their books?

lix_2

FraudBuster wrote: »

As the UK has no sub-prime lending, why are they hiding their books?

You're joking aren't you? "Self-cert" (ie. liar loans) are most definitely classed as sub-prime and B&B were a key player in both this area and BTL.

http://www.thisismoney.co.uk/mortgages/article.html?in_article_id=419834&in_page_id=8

http://www.thisismoney.co.uk/30-second-guides/article.html?in_article_id=442514&in_page_id=53611

http://www.bloomberg.com/apps/news?pid=20601102&sid=a_fh0btrlrLM&refer=uk