Bradford & Bingley are DOOMED !

Neillgb

G-G wrote: »

What is an LL Mortgage?

Ahh. Now i know too!!

FraudBuster

Please forgive me if I am wrong, but I thought that it was the Chancellor of the Exchequer who said that there is no sub-prime lending in the UK.

On this basis B&B would have nothing on their mortgage book that they would need to hide.

Do they have a Jersey/Guernsey connection?

lix_2

FraudBuster wrote: »

Please forgive me if I am wrong, but I thought that it was the Chancellor of the Exchequer who said that there is no sub-prime lending in the UK.

Bloomberg don't agree with him
http://www.bloomberg.com/apps/news?pid=20601109&sid=aAw8YxQisKYk&refer=home

ad44downey

The Texas Pacific offer has disappeared. I hope everyone managed to bail out of this turkey in time. Bradford and Bingley shares down another 9% today alone to only 55 pence. The future looks very grim for them

maninthestreet

Should I be moving my ISA I have with them somewhere else?

EdInvestor

ad44downey wrote: »

The Texas Pacific offer has disappeared. I hope everyone managed to bail out of this turkey in time. Bradford and Bingley shares down another 9% today alone to only 55 pence. The future looks very grim for them

Rubbish.The TPG money is being replaced by an even larger sum coming from existing shareholders Standard Life, L&G, the Pru and HBoS.

No doubt they will replace current management with more competent people and dump the present chairman and board.

If Clive Cowdery/Resolution end up in charge, so much the better. He has a plan to scoop up all the troubled mortgage lenders and consolidate them as he did successfully with the bombed out life funds.

Banderman

maninthestreet wrote: »

Should I be moving my ISA I have with them somewhere else?

no need. It's their shareholders that are fooked not their depositors.

Banderman

EdInvestor wrote: »

Rubbish.The TPG money is being replaced by an even larger sum coming from existing shareholders Standard Life, L&G, the Pru and HBoS.
.

Haha. That's not very comforting if HBOS are involved in anyway given their current dire performance.

lix_2

EdInvestor wrote: »

Rubbish.The TPG money is being replaced by an even larger sum coming from existing shareholders Standard Life, L&G, the Pru and HBoS.

No doubt they will replace current management with more competent people and dump the present chairman and board.

If Clive Cowdery/Resolution end up in charge, so much the better. He has a plan to scoop up all the troubled mortgage lenders and consolidate them as he did successfully with the bombed out life funds.

And who's giving those 4 the cash to pump in I wonder? Remember, HBOS has financing issues of its own. I suspect The Taxpayer via the BoE http://www.thisismoney.co.uk/news/article.html?in_article_id=440824&in_page_id=2&ct=5.com&expand=true.

Cowdery was denied access to the books not long ago, now the FSA has "magically" got the deal back on overnight. Sounds familiar http://en.wikipedia.org/wiki/Bear_Stearns#Sale_to_JPMorgan_Chase

Still, at least they're above the rights issue offer. Or not.. BRADFORD & BINGLEY (BB.L) At 1:21PM : 54.50 p Down 6.50 (10.66%)

owner

SquatNow wrote: »

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???)

Not as think as you probably.;)