Oh Dear: Barclays going bust?

[Sysman]

Has anyone else in the risk business had people asking questions about a ‘big named financial institution’ (that may or may not be the subject of this topic) which may be failing?

I'd forgotten about this one, last April:

http://news.bbc.co.uk/1/hi/business/6565859.stm

"Exclusive takeover talks between Barclays and Dutch bank ABN Amro have been extended until Friday, the two firms said in a joint statement."

The last time I remember a bank failing to take another one over cost them a fortune.

[Rantor]

I'd forgotten about this one, last April:

http://news.bbc.co.uk/1/hi/business/6565859.stm

"Exclusive takeover talks between Barclays and Dutch bank ABN Amro have been extended until Friday, the two firms said in a joint statement."

The last time I remember a bank failing to take another one over cost them a fortune.

The competing RBS bid consortium ain't doing so well in terms of raising the cash either.

[Rantor]

Really?

I thought their offer was more in cash as opposed to the Barclays offer.

There are three parties involved and one of them is not finding it so easy to get the cash together.

[Rantor]

Oh Dear... the Barclays offer was in shares was it not?

Which are now worth a good deal less than they were...

At the start it was certainly mostly shares but they have all chopped n' changed - the ABN Amro board are not recommending any offer now and there is a shareholders meeting coming up to discuss both offers in the next few weeks.

Every european bank I've worked for seems just as good at burning cash as the British ones.

I just hope the crunch doesn't come too soon as they all still seem keen to spend (not the same as invest!) heavily it on monster projects that need a constant supply of dedicated IT professionals

[sparklelard]

Sorry - it's my fault. I thought I turned off the light. Not the hub!

[Rantor]

Every ten years or so they seem to go mad... remember the loans to Africa farrago?

Which one? Lendign loads of dosh to contries with even dodgier credit ratings than my family?

I've been reading a few things lately about scenarios for the collapse of the world financial system what with it all being a bit smoke n'mirrors.Some of it seems perfectly reasonable though a lot has a touch of the Nicky G about it.

[wendigo100]

I think that particular bit of African madness was back in the 80s...

African Madness - now there's a name for a new perfume if ever I've heard one.

Or do you mean Night Boat To Cairo?

[pisces]

**** me, I never knew transfering my credit card away from them would have that much effect on them

[gadgetman]

Didn't they make something like £12 billion profit last year?

How can they be "failing" with that level of profit?