thirdwave Posted February 17, 2008 Posted February 17, 2008 (edited) Darling has been qouted by Sky sources as saying that the govt has finally decided to nationalise the turd... More details awaited... Announcement expected within the hour apparently.. Edited February 17, 2008 by thirdwave Quote
AwaitingFairPrices Posted February 17, 2008 Posted February 17, 2008 On BBC News 24 Now. Ooooops. Nice one Darling. AFP Quote
yellerkat Posted February 17, 2008 Posted February 17, 2008 Anyone on these boards the faintest bit surprised? Quote
AwaitingFairPrices Posted February 17, 2008 Posted February 17, 2008 Anyone on these boards the faintest bit surprised? What I want to know is - Is it worth shorting the shares today on IGINDEX? What exactly happens to the shares over the next few days? AFP Quote
Once in a lifetime Posted February 17, 2008 Posted February 17, 2008 Only the Irish Parliament has had more final deadlines. Quote
OnlyMe Posted February 17, 2008 Posted February 17, 2008 Will this nationalised turd still be offering 125% mortgages? Quote
Guest The_Oldie Posted February 17, 2008 Posted February 17, 2008 Anyone on these boards the faintest bit surprised? No, that's why I went in heavy with their 6.9% bond. Quote
thirdwave Posted February 17, 2008 Author Posted February 17, 2008 Anyone on these boards the faintest bit surprised? Well, no...but watch the FTSE/pound tank on Monday. With some luck, we might even get to see the back of Broon as a result of this.. Quote
thirdwave Posted February 17, 2008 Author Posted February 17, 2008 What I want to know is - Is it worth shorting the shares today on IGINDEX?What exactly happens to the shares over the next few days? AFP As long as you can short them for 0p 'cause that's what they are gonna be worth tomorrow morning Quote
A.steve Posted February 17, 2008 Posted February 17, 2008 Darling has been qouted by Sky sources as saying that the govt has finally decided to nationalise the turd... Rock & Roll - I was right. What happens next, however, I'm far less clear about. Are they likely to run-down the books, or do they intend to use a nationalised mortgage lender to control house prices? :-S If Northern Rock intends to continue to look for new custom, who will set the rates, and on what basis? Can't the other mortgage lenders argue that Northern Rock has an unfair advantage? Quote
Venger Posted February 17, 2008 Posted February 17, 2008 I wonder what the reaction of the Monaco boys will be? (SRM, RAB) Less than happy I imagine. Quote
Guest_chris c-t_* Posted February 17, 2008 Posted February 17, 2008 I'm going to enjoy watching Darling SQUIRM Quote
yellerkat Posted February 17, 2008 Posted February 17, 2008 Surely they'll have to close for new business? Quote
Bri2 Posted February 17, 2008 Posted February 17, 2008 Brings a Hole NuLabor meaning to affordable housing! More Govt employees. You couldn't make it up. Quote
AwaitingFairPrices Posted February 17, 2008 Posted February 17, 2008 Rock & Roll - I was right. What happens next, however, I'm far less clear about. Are they likely to run-down the books, or do they intend to use a nationalised mortgage lender to control house prices? :-S If Northern Rock intends to continue to look for new custom, who will set the rates, and on what basis? Can't the other mortgage lenders argue that Northern Rock has an unfair advantage? NR will be the 'peoples bank' and Dictator Brown will pass some legislation make it mandatory to use NR for all UK residents! On a more serious note though, anyone currently being subjected to repossession action by NR at the moment is now effectively being turfed onto the streets by our very own Government. 'Nice one darling' AFP. Quote
Laura Posted February 17, 2008 Posted February 17, 2008 What exactly happens to the shares over the next few days?AFP 1) They should now be worthless 2) better still :-They assume a negative value for those who bought after the big event & stay that way ..... in a Lloyds name way. 3) Something immoral is about to happen.............again Quote
Guest_chris c-t_* Posted February 17, 2008 Posted February 17, 2008 Anyone know if the GBP/USD futures have been affected yet? IGINDEX? Quote
Um_Bongo Posted February 17, 2008 Posted February 17, 2008 Will NR employees be subject to ~2% pay deals now? Quote
A.steve Posted February 17, 2008 Posted February 17, 2008 NR will be the 'peoples bank' and Dictator Brown will pass some legislation make it mandatory to use NR for all UK residents! Well, it looks that way to me. My deposits are only safe up-to £35K at *any other* bank. Northern rock not only outstrip every competitor on interest rates for savers, but also - by virtue of being nationally owned - represent risk-free savings. This can't go down well with other banks. Quote
RichB Posted February 17, 2008 Posted February 17, 2008 So if they are nationalised, will they be able to issue their own currency? If they repossess houses - will they become centrally held council houses? Quote
jonewer Posted February 17, 2008 Posted February 17, 2008 Oh noes! I lolzd! someone please make a lolcat.... or a loldarling rather.... "oh hai, I can haz respossesion" Quote
IP Newcomer Posted February 17, 2008 Posted February 17, 2008 On a more serious note though, anyone currently being subjected to repossession action by NR at the moment is now effectively being turfed onto the streets by our very own Government. If you have a Northern Rock mortgage and a Labour MP with a narrow majority then paying the mortgage is now optional. Watch the "payment holidays" go through the roof. Quote
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