Bye-bye Barclays

[Alf W]

I haven't seen anything substantiated about Barclays requiring more funding. In fact, they have informed the market that they are well capitalised.

Northern Rock was dependent on people renewing their lending and when no-one would they were insolvent.

Get over it.

[ace00]

...don't as the pound devalues so the foreign debt grows.

Buy a gold mine or something. Check out Yamana.

I said before Barclays business a 60/40 split, global / UK.

Which means that they are not over-exposed to Sterling.

People - do some research. And if you can't be bothered, go work in the City.

Sorry to go on but this pi**es me off. Now let's be clear, I have a diversified portfolio (mostly bonds) so I can handle BARC at 0, a bit of O/T and I'll make it back quick. What gets me is that there is no logical reason for this, like climate change arguments in a way.....

Here's a description of the company you're commenting on:

Barclays Company Description
Barclays sports more than 1,700 branches in the UK and some 2,000 more in Europe, Africa, Asia, and the US. The bank's offerings include personal financial services (savings, checking, and consumer loans); corporate banking; insurance; mortgage lending (Woolwich); and credit cards (Barclaycard). In addition, the company is one of the world's largest asset managers through US-based Barclays Global Investors; it also operates investment bank Barclays Capital and offers wealth management services through Barclays Wealth. In 2008 Barclays bought the North American investment banking and capital markets business of troubled firm Lehman Brothers for approximately £1 billion ($1.75 billion).

[Cyberman]

I haven't seen anything substantiated about Barclays requiring more funding. In fact, they have informed the market that they are well capitalised.

Northern Rock was dependent on people renewing their lending and when no-one would they were insolvent.

Get over it.

There was a report at the weekend that Barclays require 10 Billion and commonsense says that with illiquidity in the moneymarkets, Barclays will probably have to go to HMG for a equity-eating bailout.
Banks have to rollover loans, just as the Rock had to a year ago and that is a fact of life. The Rock had to do it earlier but all of the other banks have to do it eventually, whatever their business model.

You are letting your prejudices get in the way of commonsense IMO.

[Solidec]

What does that description prove nothing? It makes no impact on how they are percieved in the market.

Barclays does the large majority of its business in regions directly effected by the Credit Crisis and most are in recession. Who is to say they have not inherited well disguised toxic assets from Lehman? Who is to say they have not been creative with their accounting? Nobody has faith in the banks own governance and also doubt the quality of any external audits.

I see every reason for the market to be Bank averse across the board, and Barclays mroe so than any mainly due to the extents it went to to avoid Government interference, it clearly has a lot to hide.

[Cyberman]

What does that description prove nothing? It makes no impact on how they are percieved in the market.

Barclays does the large majority of its business in regions directly effected by the Credit Crisis and most are in recession. Who is to say they have not inherited well disguised toxic assets from Lehman? Who is to say they have not been creative with their accounting? Nobody has faith in the banks own governance and also doubt the quality of any external audits.

I see every reason for the market to be Bank averse across the board, and Barclays mroe so than any mainly due to the extents it went to to avoid Government interference, it clearly has a lot to hide.

Absolutely. I agree with every word there !!

[AlfredJPruffock]

It was rumours instigated by HMG that caused the run on the Rock. Since then we have seen that many other banks are actually worse run than the Rock, which has actually paid off the majority of its loans and has little toxic debt. I don't see other banks paying off loans!!!!

Barclays apparently need more funds(10 Billion estimated) even after going to the Arabs and who can say how much they will need after that !! It is HMG strategy to nationalise the banks by stealth by not giving loans but instead take equity, and thus they now own 70% of RBS. I do not trust HMG and neither should shareholders, and this in itself explains the drop. Who would want to own bank shares when in a few months HMG could own the whole thing without paying any compensation ? My advice would be to sell, and quickly.

My main worry is for pension funds that obviously would have billions invested in banks. I just hope that most have sold already, because in due course their holdings will be worthless !!!

Thank goodness Ive never saved money nor do I have a pension - never had a mortagage either nor been married nor divorced - my best investment is and remains Wine Women and Song.

[Cyberman]

Thank goodness Ive never saved money nor do I have a pension - never had a mortagage either nor been married nor divorced - my best investment is and remains Wine Women and Song.

I predict that you're going to have problems paying rent etc when you retire, unless you receive a legacy, or continue to work. There are just some things that we need to think long-term about, but unfortunately the current government have encouraged more and more to think the same way as yourself, and believe that they can rely on benefits by virtue of the taxpayer or an ever increasing national debt. Very worrying !!

[Bagpuss]

Down As Much As £450 Today Now Break Even Level, Volatile Or What!

[ace00]

Absolutely. I agree with every word there !!

A little knowledge is a dangerous thing. Over & out.

[DimPrawn]

I predict that you're going to have problems paying rent etc when you retire, unless you receive a legacy, or continue to work. There are just some things that we need to think long-term about, but unfortunately the current government have encouraged more and more to think the same way as yourself, and believe that they can rely on benefits by virtue of the taxpayer or an ever increasing national debt. Very worrying !!

If you can't afford your rent, the social pay it forever.