Reply to: Northern Crock and Nick Fritz

[scooterscot]

I think it time to buy buy buy! Looks shares a gaining in value!

http://uk.finance.yahoo.com/q/bc?s=NRK.L&t=1d

[Old Greg]

Where's the mighty investment expert Nick Fritz this morning ?

Did he put it all on NRK ?

Milan.

I think I saw him queuing outside Northern Rock in Milton Keynes, trying to get his £200 out.

[milanbenes]

Where's the mighty investment expert Nick Fritz this morning ?

Did he put it all on NRK ?

Milan.

[Hart-floot]

Congratulations!!! You now understand how the UK economy works...

Thanks - i'm under no illusions about how the UK & US economies work

At least we have Alistair "dont panic" Darling or should that be Alistair "Gordon's Patsy" Darling running things now

[Churchill]

Shouldn't "works" be in inverted commas?

Yup, thought about it but... I reckoned that we all know that "work" is meant in the loosest of terms...

[Churchill]

Thats 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 more

Congratulations!!! You now understand how the UK economy works...

[Hart-floot]

Always remember, debt is a commodity too...

Thats 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 more

[Churchill]

I've just worked it out - all those people in the queues will be wanting to apply for loans.

Always remember, debt is a commodity too...

[NotAllThere]

I've just worked it out - all those people in the queues will be wanting to apply for loans.

[cojak]

Lloyds, but the BoE stopped it...

[bobhope]

Northern rock were always the most likely candidate for this. 6x lending, 125% LTV, etc.

[sappatz]

Nr

I don't think there's too much danger of them running out of cash.

they are out of cash since no other bank will lend them money. (its a strong signal methinks !)
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.

[thunderlizard]

but opportunistic M&A always has been a weekend sport. Let's see what Monday brings.

[Sockpuppet]

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.

[Sockpuppet]

I wonder how many of those people queueing actually have more than £2000 in their savings accounts.

I think you'd be surprised.