Friday, Sep 14, 2007
This will hit other banks
guardian: Northern Rock shares slump
...Britain's fifth-largest mortgage provider. It has become the first major UK financial institution to run into serious difficulties as a result of the global credit squeeze, which has seen lending among banks shudder to a halt.
Posted by inbreda @ 09:11 AM (436 views) Add Comment
6 Comments
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1. denzil said...
I was posting blogs on here about 6 weeks back on Northern Rock and somebody whose name I did not recognise immediately ridiculed my post. I wonder if that same poster is reading this he would like to comment!
Northern Rock down 20% today thus far.
On another note I have friends who work at "The Rock" and by all accounts it is an excellent company to work for, so I hope their problems are addressed.
On another note at least one other "major" UK lender is suffering.
2. d'oh said...
This morning a very humble head of Northern Rock was on Radio 4 stating that no one foresaw what happened on August 9. Apparently it was completely unexpected. No one predicted it apparently.
Ha ha ha ha ha ha ha ha ha
What a joke. Now I understand why Merv has been rabbiting on about moral hazard this last week - talking tough so this bailout wouldn't be seen for what it is.
Will be interesting to see if they manage to prevent a run on customers' accounts. Feel sorry for any savers in Northern Rock. The executives should be persecuted, err I mean prosecuted.
3. rickyb said...
Just tried to access Northern Rock's internet banking service, only to get the message:
"Due to a temporary technical issue, we are not able to offer our full range of services. We expect to resume normal service shortly."
I wonder why.
4. Papabear said...
So what, house prices can only ever go up. ;-)
5. cornishman said...
Of course sub-prime lending never happened here in the UK
http://www.northernrock.co.uk/intermediaries/intermediaries_index.asp
6. dbnazz1 said...
Denzil...
The other lender. Could it be B*rc^!ys?????????????????????