Loyds to buy HBOS

[rootsnall]

The thing is, there's nothing "toxic" in their debt portfolio. There may be a few "dodgy" loans to UK borrowers but it's well documented that they don't have huge exposure to the US "proper nasty" sub-prime market.

And as to the BBC being well informed, that Robert Peston is a cheeky scamp and no mistake.

It does appear that they were about to be in serious trouble and I assume go under if nothing was done. Hence I think there must be enough 'dodgy' stuff !

I can't believe the wider stock market is not crashing, most of the sensible shares are not trading at their previous lows from earlier in the year.

[ace00]

It does appear that they were about to be in serious trouble and I assume go under if nothing was done. Hence I think there must be enough 'dodgy' stuff !

I can't believe the wider stock market is not crashing, most of the sensible shares are not trading at their previous lows from earlier in the year.

Well FTSE is dancing around 5000. I think it's a TA thing. It may well "breach" its "resistance" or some such nonsense. Should hit 4500 by Xmas anyhoo.

[Dow Jones]

Down with speculators

The thing is, there's nothing "toxic" in their debt portfolio. There may be a few "dodgy" loans to UK borrowers but it's well documented that they don't have huge exposure to the US "proper nasty" sub-prime market.

And as to the BBC being well informed, that Robert Peston is a cheeky scamp and no mistake.

MM - spot on mate! Nothing wrong with HBOS, just a lot of desperados wanting to make a quick buck. Shorting by hedge funds and private equity firms has seen to that.
I've never come across so much speculative trading, it makes me sick. Most of the traders also say the same.
Don't forget Preston was the cu nt that started the Northern Rock downfall - again from his sources at Nos 10/11.
That and Brown desperate to improve his ratings and wanting some credit from this - is there any to be had?

[lilelvis2000]

It does appear that they were about to be in serious trouble and I assume go under if nothing was done. Hence I think there must be enough 'dodgy' stuff !

I can't believe the wider stock market is not crashing, most of the sensible shares are not trading at their previous lows from earlier in the year.

A lot of foreclosures? with nobody interested in buying the property off the bank...because they can't get a mortgage!

[HairyArsedBloke]

Well FTSE is dancing around 5000. I think it's a TA thing. It may well "breach" its "resistance" or some such nonsense. Should hit 4500 by Xmas anyhoo.

about the time of the mincing Snot Gobling's speach at the nuLieBore Party Conference next week.

[rootsnall]

A lot of foreclosures? with nobody interested in buying the property off the bank...because they can't get a mortgage!

DUFFER WARNING I don't think residential property is such a problem ( yet ! ) but they have a lot of exposure to commercial property ( 20%ish down ) and big private equity loans and I think it is refinancing the money they borrowed for this that is causing the problems.

[Incognito]

Linky

Isn't that why HBOS are in trouble? They're being caught short with their short term bonds. The BBC has it at £150bn worth that they have to buy back by June next year with nowehere to sell them onto in this market.

[Dow Jones]

Hbos

Agree that was an issue, but these can always be rolled forward (albeit, at a price). Going back to what I said yesterday, without going into details, quite a lot of the deals done on HBOS were from 'unknown counterparties', meaning bordering on the illegal. Too late now, but who's to say which one might be next. Need to expose some of the rogues, but easier said than done.

[Incognito]

Agree that was an issue, but these can always be rolled forward (albeit, at a price). Going back to what I said yesterday, without going into details, quite a lot of the deals done on HBOS were from 'unknown counterparties', meaning bordering on the illegal. Too late now, but who's to say which one might be next. Need to expose some of the rogues, but easier said than done.

Alex Salmond got it right.

[DimPrawn]

Agree that was an issue, but these can always be rolled forward (albeit, at a price). Going back to what I said yesterday, without going into details, quite a lot of the deals done on HBOS were from 'unknown counterparties', meaning bordering on the illegal. Too late now, but who's to say which one might be next. Need to expose some of the rogues, but easier said than done.

Not pointing fingers but sasguru has been shorting the banks recently. Not sure that £1 each way could do too much damage though.