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Old Greg
17th September 2007, 16:28
Whoops - Alliance and Leicester shares down 31%. Best get onto their website while you can or get in that branch queue. Although I'm sure it will all be fine:laugh

BoredBloke
17th September 2007, 16:36
Bradford and bingley are now at 279, down 50 in a day and were up at the 500 mark a while back. Glad I held onto those then!

scooterscot
17th September 2007, 16:40
What's up with the A&L? Have got quite a bit of cash with them, should I be forming a queue?

Sounds like another bank/hedge fund managers are to blame: http://news.bbc.co.uk/1/hi/business/6999532.stm

Old Greg
17th September 2007, 16:56
What's up with the A&L? Have got quite a bit of cash with them, should I be forming a queue?


Get your money out now while you can.

BlasterBates
17th September 2007, 17:09
I think in this particular case, in contrast to NR, it is "panic".

scooterscot
17th September 2007, 17:22
oh hush

TheFaQQer
17th September 2007, 18:58
Almost time to buy some shares

eliquant
17th September 2007, 19:18
Good point ... I reckon buying shares in Mortgage lenders now is a good strategy ... at the end of the day they all have millions of people oweing them money already. ... just because getting a mortgage right now will be harder to achieve than say a week ago doesn't mean that they are all going to collapse and the whole English monetary system will be devalued to such a point that we will suffer hyper inflation and be taking wages home in wheel barrows.

just my 2 pence worth

King Cnvt
17th September 2007, 19:35
Good idea. I'm selling all my gold and oil stocks and putting them into Northern Crock. :rolleyes:

beaker
17th September 2007, 20:07
They were offering 10% interest accounts last time I checked

sasguru
17th September 2007, 21:39
If mortgage shares drop substantially BUT those companies don't use the Northern Rock model of high gearing, they are well worth buying.

Sysman
17th September 2007, 21:44
Good point ... I reckon buying shares in Mortgage lenders now is a good strategy ... at the end of the day they all have millions of people oweing them money already. ... just because getting a mortgage right now will be harder to achieve than say a week ago doesn't mean that they are all going to collapse and the whole English monetary system will be devalued to such a point that we will suffer hyper inflation and be taking wages home in wheel barrows.

That's Plan B sorted then. Wheelbarrows.

GreenerGrass
18th September 2007, 07:33
Bank shares bouncing from Darling's reassurance on the govt backing deposits.
Should get a further leg up this afternoon if the Fed cuts rates in the US, which is generally expected (especially if its 0.5%).

scooterscot
18th September 2007, 07:40
I agree with Dr Eamonn Butler who attempts to explaine the truth behind the q's:

"My economics teachers used to say that the days of a 'run on the bank' were long over.

It might have caused problems in the 1930s, but modern banking controls and accounting had consigned bank runs to economic history's dustbin.

But despite the assurances of politicians and regulators, here we have a run again.

What on earth can be happening? Well, the first thing is that people no longer believe what politicians tell them.

Their years of putting spin over principle has shattered any respect we might have had for them. Sadly, Alistair Darling's word is just not enough.

And people don't believe the regulators either.

Their vast bureaucracies have not spared us from failures and foul-up. Just ask the millions who have lost their company pensions.

If, within the regulatory alphabet soup, anyone knows what the Financial Services Authority actually is, they probably know it only as the bunch who make you produce your telephone bill and driving licence, even though you have banked at the same place for thirty years.

And despite their comforting talk, the politicians and regulators must know too that vast queues of people taking out their deposits is not good.

The financial system is highly interdependent.

It could just turn into a real crisis.

Their immediate reaction may be to make credit more plentiful, so that the banks do not run out of cash.

But that is a recipe for more inflation, which is already breaking through its target, thanks to high government spending.

Gordon Brown's chickens are coming home to roost."

milanbenes
18th September 2007, 07:48
'Good point ... I reckon buying shares in Mortgage lenders now is a good strategy ... at the end of the day they all have millions of people oweing them money already. ... just because getting a mortgage right now will be harder to achieve than say a week ago doesn't mean that they are all going to collapse and the whole English monetary system will be devalued to such a point that we will suffer hyper inflation and be taking wages home in wheel barrows'

Eliquent,

one small question, what if the people cannot pay their mortgages ?

Still, as ever, do you own research, what the feck do I know ?


Milan.

BoredBloke
18th September 2007, 08:11
I'm thinking of having a punt on NR now that the shares have had a big hit - anybody know any easy way to buy shares? Online preferably.

King Cnvt
18th September 2007, 08:15
I predict the shares will rise a bit and then fall again in the coming weeks when more financial institutions reveal the extent of their losses due to sub-prime derived debts.

I for one will not be putting my hard earned into shares in banks.

milanbenes
18th September 2007, 08:16
Tony,

if you are that eager to throw good money away, whey not jsut send it to me.

Thanks,

Milan.

BoredBloke
18th September 2007, 08:19
lol - they are up 10% today already. The govt are backing them (probably not a good sign). But I figured as the basis for a very short term punt they would be worth a bet - It's either them or Liverpool in the game tonight

Spartacus
18th September 2007, 08:20
As was only slightly ironically observed on Newsnight yesterday, why would anyone buy UK government bonds when you can get 6.9% at Northern Rock, 100% underwritten by the UK taxpayer?

Andy2
18th September 2007, 08:22
I'm thinking of having a punt on NR now that the shares have had a big hit - anybody know any easy way to buy shares? Online preferably.

try ample.co.uk
£10/deal

MrRobin
18th September 2007, 08:25
TonyEnglish, Interactive investor (http://www.iii.co.uk) is a good site to buy and sell.. £10 a trade.

Fine if it's just for a punt, although they were 10% up at the bell, NRK still seems far too volatile for any sort of investment right now!

scooterscot
18th September 2007, 08:25
buy buy buy!

http://uk.finance.yahoo.com/q/bc?s=NRK.L&t=5d

AlfredJPruffock
18th September 2007, 08:36
Whoops - Alliance and Leicester shares down 31%. Best get onto their website while you can or get in that branch queue. Although I'm sure it will all be fine:laugh


You cannae buck the Markets !

King Cnvt
18th September 2007, 08:37
buy buy buy.

bye bye :wave:

milanbenes
18th September 2007, 08:53
Marconi

Milan.

Sysman
18th September 2007, 08:55
ICI.

Can't go wrong with them, as Granny used to say.

DodgyAgent
18th September 2007, 09:16
I have today written a letter to Northern Rock announcing that due to a run on my finances (too many lap dancing clubs, hookers, booze and a new Ferrari) I have had to default on my mortgage payments. In my letter I gave them the UK treasury's telephone number and said that they would pay all future instalments :happy

I like this credit thing, now what about that villa in Portugal?

Churchill
18th September 2007, 09:29
I have today written a letter to Northern Rock announcing that due to a run on my finances (too many lap dancing clubs, hookers, booze and a new Ferrari) I have had to default on my mortgage payments. In my letter I gave them the UK treasury's telephone number and said that they would pay all future instalments :happy

I like this credit thing, now what about that villa in Portugal?

With or without the body hidden in the foundations?

TheFaQQer
18th September 2007, 09:38
I'm thinking of having a punt on NR now that the shares have had a big hit - anybody know any easy way to buy shares? Online preferably.

etrade, tdwaterhouse, halifax all do online.