Bradford & Bingley shareholders strike back!

1235789

Replies

  • bazsterbazster Forumite
    7.4K Posts
    1,000 Posts Combo Breaker
    paulboy83 wrote: »
    Didn't the Chief exec of Icesave say the same thing a few days before they went down??

    He sure did, the lying bar-steward.
    Je suis Charlie.
  • guppyguppy Forumite
    1.1K Posts
    bazster wrote: »
    He sure did, the lying bar-steward.

    I heard him on the radio. I generously put his hesitancy and general lack of confidence down to the language barrier/accent. But no, it was because he was talking (lying?) through his tightly clenched teeth!
  • TypeRTypeR Forumite
    117 Posts
    Sorry, going along with everyone else here, you picked the wrong company at the wrong time - I mean seriously B&B Buy to Let Bubble inflator - how long has the housing market been in decline now? And then Northern Rock situation who were in to sub prime loans.

    How you didn't see this coming is seriously beyond me, and I don't know much about banking,shares,investments.
  • A^SA^S Forumite
    16 Posts
    Anyone listening to radio4 this morning ? The B&B shareholder, while displaying a great deal of ignorance himself, suggested Vince Cable knew nothing about how shares work. The arrogance was astounding. While I have sympathy for anyone who has lost money - it is a risky business investing in shares. Especially investing in bank shares when the banking sector is in chaos.
  • bazsterbazster Forumite
    7.4K Posts
    1,000 Posts Combo Breaker
    guppy wrote: »
    I heard him on the radio. I generously put his hesitancy and general lack of confidence down to the language barrier/accent. But no, it was because he was talking (lying?) through his tightly clenched teeth!

    He did me a big favour: I heard that interview and immediately took my dosh out of Icesave.
    Je suis Charlie.
  • aptapt Forumite
    3.2K Posts
    Part of the Furniture 1,000 Posts Name Dropper
    ✭✭✭✭
    I am a B&B shareholder and the shares are worth exactly what I paid for them - nothing. There was someone from the Shareholders Association (or something like that) up against the mighty Vince Cable on the Today Programme and bleating that B&B shareholders should get compensation. The Shareholders Association guy did not appear to notice that his two arguments - that the B&B directors should cough up for carrying through a misleadingly optimistic rights issue when the company was on the rocks or that Brown and co should pay because they nationalised a going concern - were entirely contradictory. Cable correctly pointed out the risks that go with investing in equities and that if the government had not intervened there would inevitably have been a run on the bank. B&B would have collapsed and further weakened the banking system. People who have lost money with a punt on B&B or NR shares or who have put their money in an offshore account of a foreign bank just have to accept that they have made a mistake and that they should not be bailed out by the British government and taxpayers.
  • A useful equation:

    B&B = NRock = 0

    i.e. worthless
    Krusty & Phil Madoff, 1990 - 2007:
    "Buy now because house prices only ever go UP, UP, UP."
  • TypeRTypeR Forumite
    117 Posts
    apt wrote: »
    I am a B&B shareholder and the shares are worth exactly what I paid for them - nothing. There was someone from the Shareholders Association (or something like that) up against the mighty Vince Cable on the Today Programme and bleating that B&B shareholders should get compensation. The Shareholders Association guy did not appear to notice that his two arguments - that the B&B directors should cough up for carrying through a misleadingly optimistic rights issue when the company was on the rocks or that Brown and co should pay because they nationalised a going concern - were entirely contradictory. Cable correctly pointed out the risks that go with investing in equities and that if the government had not intervened there would inevitably have been a run on the bank. B&B would have collapsed and further weakened the banking system. People who have lost money with a punt on B&B or NR shares or who have put their money in an offshore account of a foreign bank just have to accept that they have made a mistake and that they should not be bailed out by the British government and taxpayers.

    You INVESTED
    IceSave/Kaupthing Customers are DEPOSITORS

    BIG difference my friend.
  • cogitocogito Forumite
    4.9K Posts
    I told my MIL to sell her B&B shares when they were over £3. She didn't and her attitude is that they cost nothing, I've had good dividends so I've lost nothing.

    I told my BIL not to touch the rights issue with a bargepole and he's since thanked me.

    My point is that if I, as a layman, can see that a business is going down the pan, why can't the OP? He had a bet (not an investment) on a company which was flashing warning signals all over the place and has the balls to come on here and whinge about losing his money. Pathetic.
  • cogito wrote: »
    I told my MIL to sell her B&B shares when they were over £3. She didn't and her attitude is that they cost nothing, I've had good dividends so I've lost nothing.

    .
    I've never understood this sort of thinking. It seems obvious to me that's she's lost £750 plus.

    We got this same sort of wooly thinking when HBOS was going down the pan
    Krusty & Phil Madoff, 1990 - 2007:
    "Buy now because house prices only ever go UP, UP, UP."
This discussion has been closed.
Latest MSE News and Guides

NS&I to change Premium Bond prize rate

It will rise to 1.40% from June

MSE News

Compers of the MSE Forum:

Show us the prizes you've won recently

Join the MSE Forum discussion