View Full Version : Stocks and shares turmoil..../HBOS/Bank of Scotland threads
percy toboggan
16-Sep-08, 22:08
Nobody has mentioned the markets methinks.
How so?
We are all affected, directly and indirectly. Even if you're a lardy chav with a dole habit. I'm not suggesting YOU are.
It's unprecedented in my lifetime, which means most of yours too!
I'm down a fair wedge and it was a fairly recent punt....long term it should be okay but....
...If AIG go bust then it's tantamount to financial Armageddon. Maybe Caithness isn't such a bad idea...any caves going spare?
Dearie me...and Gordon said he'd 'put an end to boom and bust''
Where IS he by the way? And what is he doing??
its because Wee Eck Salmond is claiming two wages, nothing has gone right since he took over in Scotland [lol]
Kevin Milkins
16-Sep-08, 22:33
They say every cloud has a silver lineing.
Well ,I have nowt.
I have always had nowt.
So I stand to loose about,:roll:mmm/ nowt.
Even being a peasant has its upside.:lol:
percy toboggan
16-Sep-08, 22:36
They say every cloud has a silver lineing.
Well ,I have nowt.
I have always had nowt.
So I stand to loose about,:roll:mmm/ nowt.
Even being a peasant has its upside.:lol:
You might find that 'nowt' can amount to less than you imagined.
No-one is immune from this Kevin.
Kevin Milkins
16-Sep-08, 22:41
You might find that 'nowt' can amount to less than you imagined.
No-one is immune from this Kevin.
I understand that we are all in for a rough ride over the coming year and I for sure I have no bullet proof vest.
I was just stating that I have not got any money tied up in shares that are taking a panning at the moment.
I appoligise if It sounded like I was gloating.:confused
its because Wee Eck Salmond is claiming two wages, nothing has gone right since he took over in Scotland [lol]Wee Eck has nothing to do with it Golach, would you rather have had Wendy Alexander ruining running the country?
Wee Eck has nothing to do with it Golach, would you rather have had Wendy Alexander ruining running the country?
TBH, do try to keep up, she has not been the contender for some time [lol]
TBH, do try to keep up, she has not been the contender for some time [lol]I was meaning from the time that wee Eck got elected. She was a contender then.[lol]
HBOS worries me my few pennies in that Bof S should never of sold out to Halifax different bank now different sales pitch different attitude so impersonal now BOS my bank since a kid
I don't own a house and hold no stocks or shares so don't have to worry as much as some. Sure, I care about the economy and especially the less well off in the country trying to stretch what little money they have even further, but I care not a jot for those in the banking industry who are running around like the proverbial chickens.
For too long banks have been making millions off the backs of people trying to get on in life and own property etc. My colleagues wife works for RBS and is currently up for promotion. If she is successful then her salary will rise to £60k with bonus's on top which could amount to £150k!
Fair play to her, she has worked hard to get where she is in her career but is she worth £90k in bonus's? She was offered a similar post and deal with HBOS but decided to stay with RBS, but regardless of the bank, who is funding those bonus's? You and I
So do I care Lehmans in the US is in trouble or that HBOS and others in this country are in trouble? What do you think?
I don't own a house and hold no stocks or shares so don't have to worry as much as some. Sure, I care about the economy and especially the less well off in the country trying to stretch what little money they have even further, but I care not a jot for those in the banking industry who are running around like the proverbial chickens.
For too long banks have been making millions off the backs of people trying to get on in life and own property etc. My colleagues wife works for RBS and is currently up for promotion. If she is successful then her salary will rise to £60k with bonus's on top which could amount to £150k!
Fair play to her, she has worked hard to get where she is in her career but is she worth £90k in bonus's? She was offered a similar post and deal with HBOS but decided to stay with RBS, but regardless of the bank, who is funding those bonus's? You and I
So do I care Lehmans in the US is in trouble or that HBOS and others in this country are in trouble? What do you think?
Sorry I disagree I care !!
I maybe am not on the salary of your friends wife with bonuses and who actually cares about that apart from the people who continue to gloat about it and pursue one upmanship Oh I have a better house than you syndrome or I earned more than you
I do own my Home, I do have savings which going by today standards do not amount to much I have a part pension and my OH already took huge losses in his pension after serving his country for years due to losses in the financial climate
I am by not stretch of the imagination well off as many on here will know
as we took huge knocks this year but as too caring well yes I do care and never would I adopt the I am allright jack syndrome which I detest about our country and our society at large
we were at a Garden Party in London last year and a 23 yr old city banker owned a Ferrari if he lost that would I care not a jot but to him his world would end
Maybe you've read my post wrong Anne, I've never had the 'I'm alright Jack' syndrome. I'm not well off, very far from it-I'm one of those who have too much month left at the end of my money. I have a pension plan which will be affected by the current crisis but given that I'm 43 now then I'm sure the markets will have recovered by the time I retire.
I care about the people who have mortgages who may lose their homes. My sister and her husband lost their home in the recession back in 1992 so I know what anguish people will be going through now.
I care about those who may lose their job due to the current crisis. My own job, because I work in construction, could be under threat but I'm not worried about that-I've had worse things happen to me. Also, I know that not everyone that works in the banking industry is on huge salaries and are as affected by the crisis like everyone else.
The ones I don't feel sorry for are the mega-rich who got there off the backs off people just trying to live a 'normal' life and have a decent standard of living. As usual, when times are good the rich get richer-when times are bad the poor pay the price.
It now looks like the Federal Reserve are going to give AIG a $85 Billion bridging loan and take 80% stake in the company.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aNxXWHznfowY&refer=home
oldmarine
17-Sep-08, 02:22
Nobody has mentioned the markets methinks.
How so?
We are all affected, directly and indirectly. Even if you're a lardy chav with a dole habit. I'm not suggesting YOU are.
It's unprecedented in my lifetime, which means most of yours too!
I'm down a fair wedge and it was a fairly recent punt....long term it should be okay but....
...If AIG go bust then it's tantamount to financial Armageddon. Maybe Caithness isn't such a bad idea...any caves going spare?
Dearie me...and Gordon said he'd 'put an end to boom and bust''
Where IS he by the way? And what is he doing??
Looks to me like the great depression of the late 1920's through the 1930's on up to WW2 in the 1940's. I shall never forget those dark days. I would hate to see those days return but it appears that it could happen.
Welcomefamily
17-Sep-08, 04:48
HBOS worries me my few pennies in that Bof S should never of sold out to Halifax different bank now different sales pitch different attitude so impersonal now BOS my bank since a kid
Their shares are certainly falling and If it collapsed how much of there money would small investors get back and where from? its such a big company, what would the knock on effect be? Northern Rock is the safest place to be at the moment as the government has committed its self heavily there and will not loose face by letting it collapse.
The problem with it is at some stage they will start putting up interest rates to prop up the pound and it looks certain that house prices will drop at least another 25% or more in rural areas so house sales fall as you dont want negative equity if you can get a mortgage.
The market collapsing affects EVERYONE.
If business' lose money they pass that on to the consumer-US!!!!
I have a pension which will take a bit of a kicking from this and I am only 38 so I'll just have to keep my fingers crossed for the next 12 years and hope that it works out!!!!.
We delved into the market a couple of years ago and Invested. We used to bet on horses but took a punt on shares.Made a quick profit and got out, how lucky we were! The stock market is a risky business that we are all involved in one way or another,so fingers crossed that alls well that ends well.
brokencross
17-Sep-08, 06:35
HBOS worries me my few pennies in that Bof S should never of sold out to Halifax different bank now different sales pitch different attitude so impersonal now BOS my bank since a kid
I have been with "the auld bank" since 1970, don't know who to "blame" for the problems. I always thought they were as safe as houses; though that's maybe thats a bad simile to use at the moment.
This gives history of recent problems, a bit long, has bits of jargon but does give the full picture.
http://news.bbc.co.uk/1/hi/business/7521250.stm
I don't have any shares on principle that they are a capitalist scam so I'm happy. I have share options with work but I'm just collecting the money that I've saved even though the share price has more than doubled.
Hmmm, the news that Lloyds is buying up HBOS is the final nail in the coffin of Bank Of Scotland (which if my memory serves me right was supposed to be the oldest bank in the UK?).
http://news.bbc.co.uk/1/hi/business/7620483.stm
brokencross
17-Sep-08, 12:52
Bank Of Scotland (which if my memory serves me right was supposed to be the oldest bank in the UK?)
That is my understanding as well. I preferred the old Bank of Scotland way of working and hate the HBOS brand.
Goodness knows what the name would be if it goes through, it will soon be the whole alphabet.
HBOSTSB or TSBHBOS or HTBSBOS
HBOS worries me my few pennies in that Bof S should never of sold out to Halifax different bank now different sales pitch different attitude so impersonal now BOS my bank since a kid
Same here Anne and it worries me too.
If -as seems likely- they're taken over by Lloyds TSB, that will be me back to where I started more or less...with a TSB piggybank savings account! :roll: :eek:
Same here Anne and it worries me too.
If -as seems likely- they're taken over by Lloyds TSB, that will be me back to where I started more or less...with a TSB piggybank savings account! :roll: :eek:
Yes so sad for our oldest bank I have been with BOS since a child still better LTSB to the rescue if it goes ahead other than going down the road of queing up to get our money out like the Northern Rock Investors
We used to have a lady selling saving stamps when I was a child in the village was that the old TSB or was it P O stamps I canna mind she came to the door on a Friday anyone mind that ?
teenybash
17-Sep-08, 14:28
I am beginning to feel a wee bit worried about my meagre pennies with HBOS. Not a lot but, all I have......maybe we should tuck our rainy day pennies back under the mattress as I have a sneaky suspicion that the 'rainy day' could be here.:(
teenybash
my OH said that last night back to the days of under the bed and in the blanket Kist having said that we dont have them anymore for blankets with the Duvets taking over
Kevin Milkins
17-Sep-08, 14:55
teenybash
my OH said that last night back to the days of under the bed and in the blanket Kist having said that we dont have them anymore for blankets with the Duvets taking over
If the bank saga gets much worse I dont think sticking money in a biscuit tin under the bed will be the answear.
The fall of major banks on a large scale has the ability to undermine the whole fabric of society as we know it.:eek:
Our hard cash under the bed will amount to no more use than cofetee.:confused
We may all come to realise that some food and a warm shelter is about all we require.
I have a few shares in HBOS - just the freebies that were allocated on the merger. Bought a few more the other month when they gave the option under the rights issue - guess that was a mistake!!!
:(
Walked past my local branch today and considered closing my account and opening a biscuit tin account...
Someone on the radio said they were transferring all their money into premium bonds. Might be the safest place for it!!!
It was in the Record today that shares in bank are useless at the mo.
Tam cowan stated that if you put £1,000 on Tennents lager, drank it then took the cans to recycling then you would have £234, wheras a £1,000 of bank shares are worth about £89.
At least with the lager you can drown your sorrows at losing that money, well they always say if you take a dram you are peeing good money against the wall!! ;)
My, how they have plummeted...
http://uk.finance.yahoo.com/q/bc?s=HBOS.L&t=5y&l=on&z=m&q=l&c=
It was in the Record today that shares in bank are useless at the mo.
Tam cowan stated that if you put £1,000 on Tennents lager, drank it then took the cans to recycling then you would have £234, wheras a £1,000 of bank shares are worth about £89.
At least with the lager you can drown your sorrows at losing that money, well they always say if you take a dram you are peeing good money against the wall!! ;)
Emmm hate to disagree wi yersel and Tam hotrod but I think there is something wrong wi yer maths there. By my reckoning if you spent £1k on HBOS this morning at 182.00p you would have 549 shares they are currently sittin at 142.9p so that means yer £1k holding has been reduced to a worth of £784.52. £89? What precisely does this relate to? Even if the £1000 was spent on HBOS shares a year ago when they were about £6.80 the £1k would still not be worth £89. Fot this to be true the shares when purchased would have to have cost nearly £21 each and I could be wrong but this would have been their all time high in the last few years. It is rubbish like this in the press (and yeah I know Tam is meant to be humorous) that creates panic in a huge portion of society. Yeah shares are not worth much at the moment but that is the risk you take with this type of investment. Also yes these shares have a knock on effect on many things like pensions and prices but that too is the nature of the beast.
If an economy is built on 10 years of debt, this is the result.
Will it affect the rich - marginally. But dont get me started on the bank executives.
Will it affect the (relatively) poor - massively.
Emmm hate to disagree wi yersel and Tam hotrod but I think there is something wrong wi yer maths there. By my reckoning if you spent £1k on HBOS this morning at 182.00p you would have 549 shares they are currently sittin at 142.9p so that means yer £1k holding has been reduced to a worth of £784.52. £89? What precisely does this relate to? Even if the £1000 was spent on HBOS shares a year ago when they were about £6.80 the £1k would still not be worth £89. Fot this to be true the shares when purchased would have to have cost nearly £21 each and I could be wrong but this would have been their all time high in the last few years. It is rubbish like this in the press (and yeah I know Tam is meant to be humorous) that creates panic in a huge portion of society. Yeah shares are not worth much at the moment but that is the risk you take with this type of investment. Also yes these shares have a knock on effect on many things like pensions and prices but that too is the nature of the beast.
It would if it was northern rock! Never mentioned HBOS :)
I'm delighted your brain didn't implode, Hotrod.[lol]
~~Tides~~
17-Sep-08, 19:02
I am beginning to feel a wee bit worried about my meagre pennies with HBOS. Not a lot but, all I have......maybe we should tuck our rainy day pennies back under the mattress as I have a sneaky suspicion that the 'rainy day' could be here.:(
All major banks subscribe to the Financial Services Compensation Scheme. That means, if a particular bank was to go bust, the first £35,000 you held with that bank would be completely safe. Even if you have more than £35k, it can be spread out among banks, so you could be 100%. Northern Rock's major trouble wes caused by people panicing and withdrawing their savings, when the vast majority had less than £35k and would have been covered anyway!
Premium Bonds have a dreadful 'rate' of interest, it works out at less than 3.4%, compared to the top savings accounts at more than 6.5%. Northern Rock's web saver account is paying 6% just now, and with it being owned by the government, all deposits are 100% covered.
FSCS explained in more detail here: http://www.moneysavingexpert.com/savings/safe-savings
percy toboggan
17-Sep-08, 19:04
Just last month I took my (our) first punt on the stock exchange. I went for bank shares because experts were saying they had' bottomed out' Sums are modest but sizeable to me/us. I bought HBOS and er...Lloyds TSB as luck would have it. This morning I thought I'd lost us the equivalent of about six weeks wages but the developments of the day meant I didn't have to cook my own tea. This is hard earned money for the most part. For every fat cat speculator there are twenty small fry like me just lookin' to make a few quid for their dotage.
WE were given windfall shares in '95 when Halifax de-mutualised. We had a couple of grand in a Leeds Permanent account at the time. We flogged 'em when they crested nine pounds...this morning for a short time they were worth ninety pence! A lot of this was down to sharp practice and short selling which is still legal. It shouldn't be.
If Lloyds management have any nouse they will make more of the Bank of Scotland brand name and drop that annoying man in the Halifax ads. I did hear a rumour the new finance house will be called Anglo-Scottish Banking Associates. ASBO!
Seriously, I've found out the hard way the many so called experts know next to nowt and merely offer conflicting opinion much of which is worthless.
It's been an interesting roller coaster to ride but I'm not sure if I'll get on again for a while...just leave the thing to find a level. The worst might be over but there is still a lot of pain ahead. Unemployment, house price crash, etc. etc.
percy toboggan
17-Sep-08, 19:09
All major banks subscribe to the Financial Services Compensation Scheme. That means, if a particular bank was to go bust, the first £35,000 you held with that bank would be completely safe. Even if you have more than £35k, it can be spread out among banks, so you could be 100%. Northern Rock's major trouble wes caused by people panicing and withdrawing their savings, when the vast majority had less than £35k and would have been covered anyway!
Premium Bonds have a dreadful 'rate' of interest, it works out at less than 3.4%, compared to the top savings accounts at more than 6.5%. Northern Rock's web saver account is paying 6% just now, and with it being owned by the government, all deposits are 100% covered.
FSCS explained in more detail here: http://www.moneysavingexpert.com/savings/safe-savings
Premium Bonds give you the extra 'interest' in thinking you might win big...who knows. Newer, fresher bonds seem to pay out more than very old ones too , somehow.
Also a word of caution...you need to check who holds the banking licence for your savings institution of choice. For instance the Halifax owns Birmingham Midshires and the AA I think. Also Lloyds own the Cheltenham & Gloucester Building Society so be warned and beware.
Whilst the Royal Bank of Scotland and Nat West & Sainsbury's Bank are under the same ownership they have different licences. Important point.
Melancholy Man
17-Sep-08, 19:20
Looks to me like the great depression of the late 1920's through the 1930's on up to WW2 in the 1940's. I shall never forget those dark days. I would hate to see those days return but it appears that it could happen.
It won't happen intentionally. There is an awareness of what caused that Crash, and hats off to the US Government, they didn't let Dick Fuld push up the sale price but pulled the carpet from under him.
It would if it was northern rock! Never mentioned HBOS :)
Oops Hotrod back to school for you this still does not compute. I didn't see Northern Rock mentioned anywhere in yer original post so I just took a current example and HBOS is popular at the moment (well certainly wi Lloyds TSB). Now from what I have gleaned on the net NR shares were stopped trading at 90p. As far as I can tell the Treasury is now in control of them and I cannot find that compensation if any has been paid to NR shareholders so that makes them worth ??? Perhaps a link to Tam's article would have been helpful cos I don't usually post about things I don't know about. In the future yersel and Tam should stick to football post mortems!
I think that perhaps the media is making the situation worse. Isn't that what happened with Northern Rock? They totally exaggerated the situation and people panicked and pulled their money out?
I know things aren't easy at the moment, with the cost of everything rocketing but I don't believe a word the news programmes say at the moment. I think things will get better, probably not for a while. I think both the media and politicians deliberately try to hype everything up in order to advance themselves. With Gordon Brown in crisis at the moment, it's a good story. If it's a recession, it's worldwide, it's not just confined to us.
Misery loves company....:(
I don't usually post about things I don't know about!
I do it all the time-someday I'll be found out. [lol]
I do it all the time-someday I'll be found out. [lol]
So do I but you can always say you're being ironic, or a devil's advocate. Oh, that won't work anymore then will it?:)
I do it all the time-someday I'll be found out. [lol]
What do you mean - someday? [lol]
purplelady
17-Sep-08, 23:20
Who else is worried bout the news in volving bos i have my main money and saving in there and i for one am scared stiff about what is going to happen and do not know what to do any advice
Melancholy Man
17-Sep-08, 23:24
If you have a few hundred pounds, I won't blame anyone for wanting the sense of security. But hang tight (more than that would be daft). Granted if there is going to be a run, one person abjuring won't help, but if lots of single people abjure, there'll be no rush.
If it's going to fail, everyone is in deep mess.
Sapphire2803
17-Sep-08, 23:31
I do too and the worst thing anyone can do is panic.
Your money is guaranteed up to £35,000 by the government
More info here (http://www.moneysavingexpert.com/savings/safe-savings)
Melancholy Man
17-Sep-08, 23:32
Cheers for that, Saphie. Leave the money!
Just heard on the news that LLoyds are making a bid for HBOS. What is happening to all the banks? BOS became HBOS what now LTSBHBOS!! Thats a bit of a mouthful!
Its little wonder that people are getting scared about their money but I suppose if LLoyds take it over it would hopefully mean that their are financially strong enough to do whats required.
webmannie
18-Sep-08, 06:44
Just heard on the news that LLoyds are making a bid for HBOS.
Thats yesterdays news. They HAVE taken over HBOS in a £12bn deal. You havna been following the news about the 'credit crunch', suggest you do, It answers your question
What is happening to all the banks?
Thats yesterdays news. They HAVE taken over HBOS in a £12bn deal. You havna been following the news about the 'credit crunch', suggest you do, It answers your question
It wasnt a question it was more of an observation! I have been following the "credit crunch".
It was only officially announced this morning so posted it as it wasnt mentioned.
http://money.aol.co.uk/mortgages/lloyds-seals-deal-for-hbos-takeover/article/20080918012509990001?country=uk
A new financial giant is born which supplies a third of all mortgages in UK, so much for the monopolies and mergers commission.
highlander
18-Sep-08, 09:17
I am very worried now, im mean what if i win the euro lottery rollover, hecks what do i do, where is the safest place to invest it? lol I am beginning to believe my hubby now, if i dont have a problem to worry about, i look for one that is not there. lol
I feel less anxious about my savings in HBOS -but not happy about this takeover or about the branch closures and job losses that will inevitably follow.:(
I suppose the rebranding exercise will provide a few extra jobs in the short term....:roll:
I am beginning to believe my hubby now, if i dont have a problem to worry about, i look for one that is not there. lol
My OH is another.:lol:
Moderator
18-Sep-08, 09:58
In order to keep the discussion of this topic, which includes the take over of HBOS by Lloyds TSB, in one place two other threads have been merged into the "Stocks and shares turmoil....." thread.
I mut say that this cedit crunch thing has a few silver linings.
When I was looking to get a foothold on the property ladder, the banks would only lend 2.5 times your annual salary plus half of the spouses. Within a few years, I was seeing young couples going for houses that were completely beyond their means which means that led to property prices sky rocketing.
Money which is tied up in a house is dead money anyway unless you want to downsize and live in a tent.
And who wants to be in debt anyway? House prices are coming down and eventually that must be good news for first time buyers.
Ok - we can all relax. Gordon Brown may not be doing anything but George Bush has cancelled a trip to stay in Washington and sort things out. So we can breathe again.
teenybash
18-Sep-08, 16:12
This dreadful takeover of HBOS is a grevious blow to Scotland.
Is Gordon Brown hell bent in turning a blind eye on his own country and national insititutions to swing the hammer and break Scotlands back.......this takeover is a disgrace and never should have been allowed to happen.
I now hope that Mr Browns days are severely numbers.......where next will the hammer fall....Royal Bank of Scotland?[disgust]
I guess all these takeovers are another example of intelligent design.
Melancholy Man
18-Sep-08, 18:16
This dreadful takeover of HBOS is a grevious blow to Scotland.
Is Gordon Brown hell bent in turning a blind eye on his own country and national insititutions to swing the hammer and break Scotlands back.......this takeover is a disgrace and never should have been allowed to happen.
I now hope that Mr Browns days are severely numbers.......where next will the hammer fall....Royal Bank of Scotland?[disgust]
Lehman Brothers, Merrill Lynch and AIG didn't receive golden parachutes, so I fail to see why HBoS should have simply because it was Scottish. This is precisely the same willingness to ignore the reality of the environments they'd submitted themselves to which caused this mess. And did cause the Crashes of 1929 and 1987.
Our concern should be for individual investors and the support staff of HBoS, not a adversarial nationalism. That and seeing Salmond squirm (http://news.bbc.co.uk/1/hi/scotland/edinburgh_and_east/7621153.stm):
"I am very angry that we can have a situation where a bank can be forced into a merger by basically a bunch of short-selling spivs and speculators in the financial markets," he said.
"We should not have situations where well capitalised, properly funded financial institutions are subject to incredible speculative attack, and that drives them into decision making which they otherwise might not have done.
"You have got to put the hems on that sort of activity, otherwise we will have a succession of companies going through the same process. All financial regulators have got to wake up to where we are at the present moment."
Hilarious buffoon.
Seems the FSA have just banned all that short-term trading - nothing like shutting the stable door.
Looks to me like the great depression of the late 1920's through the 1930's on up to WW2 in the 1940's. I shall never forget those dark days. I would hate to see those days return but it appears that it could happen.
Re 1929 Wall Street Crash, this repercussed (whatever the verb is) on a big Austrian bank - Creditanstalt - as American banks called in their loans on it. Subsequent collapse = bad result for Germany = Hitler was on his way. Doom. Doom.
I did hear a rumour the new finance house will be called Anglo-Scottish Banking Associates. ASBO!
Will this be a first for Anglo-Scottish Anything then? ASBO sounds great.
percy toboggan
18-Sep-08, 21:21
Will this be a first for Anglo-Scottish Anything then? ASBO sounds great.
Just realised I messed up me acronym.
ASBA - what a plonker;)
Lehman Brothers, Merrill Lynch and AIG didn't receive golden parachutes, so I fail to see why HBoS should have simply because it was Scottish. This is precisely the same willingness to ignore the reality of the environments they'd submitted themselves to which caused this mess. And did cause the Crashes of 1929 and 1987.
Our concern should be for individual investors and the support staff of HBoS, not a adversarial nationalism. That and seeing Salmond squirm (http://news.bbc.co.uk/1/hi/scotland/edinburgh_and_east/7621153.stm):
Hilarious buffoon.
HBoS is as Scottish as Yorkshire Pudding. The air being pumped into Lehman's parachute was withdrawn rather abruptly. Maybe someone, somewhere had a sharp indrawn take of breath. http://news.bbc.co.uk/1/hi/business/7621609.stm
The writing was on the wall for the Bank of Scotland some years ago when they agreed to a "merger" with the Halifax. The credit crunch has merely brought about the inevitable a bit quicker than most anticipated.
~~Tides~~
19-Sep-08, 02:04
RBS' shares are down another 5% at the close of trading today, a new low of 161p. Lowest of all the ftse100 banks. Very worrying...
Melancholy Man
19-Sep-08, 11:58
Did anyone else catch Ian Hislop on Question Time last night? Hilarious! Intentionally so, unlike that tramp whittering on about Britain being a fascist dictatorship.
teenybash
19-Sep-08, 12:19
Did anyone else catch Ian Hislop on Question Time last night? Hilarious! Intentionally so, unlike that tramp whittering on about Britain being a fascist dictatorship.
Yes he was brilliant..............what a wit.[lol]
percy toboggan
19-Sep-08, 18:46
RBS' shares are down another 5% at the close of trading today, a new low of 161p. Lowest of all the ftse100 banks. Very worrying...
Perhaps a little easier today Tides?
Didn't they pay £54 billion :eek:for ABN Amro of Holland, which makes Lloyds acquisition of HBOS for about £10billion an absolute steal.
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