Sunday, Nov 25, 2007
Alliance & Leicester set to make hugh write off
Guardian: A&L set to make huge 'toxic loan' write-offs
More losses at U.K. Banks. Darling here comes the next one!
Posted by who stole my pension? @ 06:01 PM (409 views) Add Comment
2 Comments
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1. jack c said...
A&L are widely believed to be the next lender down from NR in terms of dependency upon raising money in the markets to fund their mortgage operations. I suspect they will be breathing a huge sigh of relief at the latest ECB announcement that they are to pump fresh cash into the money markets
“Fresh emergency action to pump funds into the money markets was announced on Friday night by the European Central Bank amid renewed fears that liquidity in the credit markets is again starting to dry up. On Friday night, the bank said it would inject an unspecified amount of extra liquidity next week, noting “re-emerging tensions” – and would do so until at least the end of the year”. Check out the full article on FT.com
2. Bigyin said...
Yoinks, I've got some savings with them. Time to move em methinks...