Bailout Vote

[HeliCraig]

Let's shortsell on the Dim Prawn Ltd....

Before they get suspended by the markets!!

[Cyberman]

Because the more banks fail, the more banks will be reluctant to lend to each other due to a lack of confidence that the bank they're lending to will stay solvent.

This will lead to further seizure of the credit markets, which will make things worse for everyone. All but the most creditworthy customers will be unable to get credit, businesses will be unable to get credit for investment, any recession will be made lots worse...

Doomed.

I've got enough savings to last me many years so bring it on. It's a shame that we live in such a materialistic society that so many people buy goods with total disregard to whether they can really afford them and put nothing away for a rainy day. Now they will surely learn the error of their ways.

[Jubber]

That's why it's good news. People and businesses have enough debt already. The reset button needs pressing.

Yup - it will happen whatever they do. All this is just rearranging chairs on the Titanic (to quote a much used phrase).

But it will come back again. Not good news if you have oodles of debt and a few mortgages, but then again, no one held you down to take it/them out in the first place. Investments can go up as well as down.

[DiscoStu]

That's why it's good news. People and businesses have enough debt already. The reset button needs pressing.

I'd agree except for the fact that people who still can afford credit will be turned down. For example, nobody will be able to buy a new car on finance, even if they're well able to afford the repayments. Then we get falling sales, cuts in production, cuts in employment, the knock on effect on other businesses caused by falling spending because of increasing unemployment, etc etc...

[Cyberman]

Try reading this thread Diestl

[scooterscot]

Not good news if you have oodles of debt and a few mortgages, but then again, no one held you down to take it/them out in the first place. Investments can go up as well as down.

Too true - and that's why support mechanisms need to be put on full alert. People torching their houses, suicide by chain-saw are some of the true victims of London's cream greed.

[DiscoStu]

Dow Jones just closed down 590 points

[Jubber]

..
suicide by chain-saw ....

Knowing my luck the b@stard wouldn't start

[HeliCraig]

Dow Jones just closed down 590 points

Is it just me.. or does (spread) betting on the markets seem like a reasonable idea to anyone at the moment?

[Bagpuss]

Transferred all me wonga there 7 months ago... finger on the pulse!

smug mode on

I just transfered mine out of Kaupthing to the NW. Had a look on Motley fool for their recommendations, B&B was the best (last week) apparently