Oh Dear: Barclays going bust?

[thunderlizard]

Of course there's this too:
http://www.ft.com/cms/s/c9eec74e-573...om%2Fhome%2Fuk

£1.6bn emergency loan
$1.6bn bail out.

1.6 of course being the Golden Ratio, as used in Leonardo Da Vinci's Mona Lisa.

We giant lizards know how to run things!

[ElectricChair]

If it a technical breakdown why is no other bank affected?

[DimPrawn]

Blame the IT dept. Everyone will believe you and you can sack all your IT dept and shift it to India and the shareholders will cheer with glee.

[Pondlife]

Barclays says that a "technical breakdown" in the UK's clearing system

Ok, which one of you code monkeys broke it?

Or did Milan forget to do the nightly backup again?

[NickFitz]

If it a technical breakdown why is no other bank affected?

Because the other banks don't use Barclays' computers?

[ElectricChair]

Because the other banks don't use Barclays' computers?

they blamed CREST - see http://www.telegraph.co.uk/money/mai...31/ccom131.xml

No bank wants to deal with Barclays - its time to move to a solvent bank.

[BlasterBates]

This isn't a technical breakdown, basically Barclays couldn't find a bank to lend it 1.6 billion. Do you really think a bank would turn down several hundred thousands quids worth of lending, because it was a bit late in asking, or maybe because they thought 1.6 billion might just go for a "Burton".

[DimPrawn]

Anyone with money in Barclays might want to shift it to, say, just for example, Nationwide (in Swindon ), which is a great bank.

[ElectricChair]

And the loan was taken out at 11am - 5 hours before the markets closed

http://news.bbc.co.uk/2/hi/business/6971731.stm

this could turn out to be an interesting weekend!

[Troll]

Ok, which one of you code monkeys broke it?

Bob Shawadiwadi & chums