Oh Dear: Uber Doomed

[milanbenes]

'Meanwhile, Scottish Widows pulled all of its two and three-year fixed-rate mortgages and all of its buy-to-let range in response to the uncertainty in the markets.'

'It also emerged that three million homeowners face an increase of up to £300 a month in their mortgage bill as they have to take out new home loans at a much higher interest rate than when they were first arranged.',

'Anyone with a pension which requires them to use their pension pot to buy an annuity could see the size of their pension fund severely depleted by the stock market losses, experts predicted, and some may end up having to postpone their retirement as a result.'


'The Prime Minister, Gordon Brown, promised to take "whatever action is necessary" to maintain economic stability.',


http://www.telegraph.co.uk/money/mai...eltdown118.xml


Milan.

[milanbenes]

wow...


'The pound dropped almost three cents against the dollar to $2.0008 as well as hitting a new low of 78.78p against the euro. Mr Mellor said he expected sterling to drop to the mid-80s against the single currency.'


http://www.telegraph.co.uk/money/mai...cnpound118.xml



Milan.

[AlfredJPruffock]

'The Prime Minister, Gordon Brown, promised to take "whatever action is necessary" to maintain economic stability.',


That translates to - we are going to dump sterling and join the Euro.

You read it here first.

[threaded]

'The Prime Minister, Gordon Brown, promised to take "whatever action is necessary" to maintain economic stability.'

Well, you all best screw up your courage for the sticking place.

threaded in "Scottish play" mode

[AlfredJPruffock]

Either join the Euro or bring back the Mad Messiah.
Or invade Iran ?

OK - OK - if that is a bit too much we could always re-invade Iraq - except for the Turkish bit.

If thats a bit problematic then theres always North Korea- do they or don't they have the bomb ?


No matter - at least we are truly shoulder to shoulder with the US as both currencies go into freefall.

Whatever action is necessary - nice - reassuring - well almost.

[Shimano105]

Meanwhile in Cheshire, a permie (working in Yorkshire) agonises over the colour of the wheel trims on his Focus...

[AlfredJPruffock]

Meanwhile in Cheshire, a permie (working in Yorkshire) agonises over the colour of the wheel trims on his Focus...

What colour did he go for in the end ?

[Marina]

'The Prime Minister, Gordon Brown, promised to take "whatever action is necessary" to maintain economic stability.',


That translates to - we are going to dump sterling and join the Euro.

You read it here first.

Yes, see if we can catch it on the way past, like James Bond grabbing Jaws in mid air.

Seriously, I can't see it happening, and the EU probably wouldn't approve anyway, because joining the Euro now with the parlous state we're in would *add* to the strains already on it from countries like Italy and Spain with their mounting deficits and problems (I think?)

[AlfredJPruffock]

Yes, see if we can catch it on the way past, like James Bond grabbing Jaws in mid air.

Seriously, I can't see it happening, and the EU probably wouldn't approve anyway, because joining the Euro now with the parlous state we're in would *add* to the strains already on it from countries like Italy and Spain with their mounting deficits and problems (I think?)

Aye Marina - they will try and probably be rejected .



America's fifth largest bank last night became the biggest casualty so far of the global credit crunch - sold off to a rival at a knockdown $2 a share, a discount of 94% on last week when it was valued at $140bn.

The board of Bear Stearns bank approved the buyout by JP Morgan Chase for $236m after a weekend of frantic negotiations. Had the deal not been done, the bank would almost certainly have gone bankrupt.

Last night the US Federal Reserve cut the rate at which it lends money to banks and made more money available for them to secure short term loans.

George Bush is to meet the chairman of the Federal Reserve Paul Bernanke and the US treasury secretary Henry Paulson today. Paulson said: "The government is prepared to do what it takes to maintain the stability of our financial system. That's our priority."

So - will the US join the Euro as well ?

[miffy]

Meanwhile in Cheshire, a permie (working in Yorkshire) agonises over the colour of the wheel trims on his Focus...