Originally posted by NotAllThere
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I think you'd be surprised. -
They reckon that the withdrawals are at £2billion. Monday will see some big hits as well. NR reckon that postal accounts will start to be emptied which contain over £10billion.
Certainly wouldn't buy shares in them at the moment. They were due to announce a takeover last week before the loan was needed. If the share price drops 31% you think that bank would pounce but not so...I think that is a bad sign.Comment
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but opportunistic M&A always has been a weekend sport. Let's see what Monday brings.Comment
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Nr
they are out of cash since no other bank will lend them money. (its a strong signal methinks !)I don't think there's too much danger of them running out of cash.
the rate of 7% offered by the BOE is excessive and will eat margins
BTW the economic model of NR sucks big time in the current times : 73% of the financing comes from commercial paper in the credit derivatives market, wich has become pretty illiquid the last times.Comment
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Northern rock were always the most likely candidate for this. 6x lending, 125% LTV, etc.Comment
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Lloyds, but the BoE stopped it..."I can put any old tat in my sig, put quotes around it and attribute to someone of whom I've heard, to make it sound true."
- Voltaire/Benjamin Franklin/Anne Frank...Comment
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I've just worked it out - all those people in the queues will be wanting to apply for loans.Down with racism. Long live miscegenation!Comment
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Thats good, the UK's personal indebtedness is 1.9 Trillions pounds Perhaps we can make some money on itOriginally posted by Churchill View Post
And then put the balance into the other "reputable" lenders like the Bradford&Bingley and the Alliance&Leicester 
so they can lend out some more
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Congratulations!!! You now understand how the UK economy works...Originally posted by Hart-floot View PostThats good, the UK's personal indebtedness is 1.9 Trillions pounds Perhaps we can make some money on it And then put the balance into the other "reputable" lenders like the Bradford&Bingley and the Alliance&Leicester so they can lend out some moreComment
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