Tuesday, May 20, 2008
Crisis continues to build..........
Telegraph: Mortgage debt fears hit banks' shares
''...Bradford & Bingley's (B&B) shares slumped to a record low amid fresh fears about the mortgage market. Jitters about a potential increase in bad debts also hit other UK banks, including HBOS, owner of Halifax and Bank of Scotland, and Royal Bank of Scotland. The further slide in banking shares came as investors focused on problems that could lie ahead for the UK's banks.
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Posted by hpwatcher @ 06:38 AM (446 views) Add Comment
3 Comments
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1. hpwatcher said...
Here is a rather lovely graphic:-
2. uncle tom said...
(but HSBC are down less than 5% YoY)
B & B looks beyond salvation at the moment, and it is not impossible that they will collapse within a week.
Watch the share price today - if no-one with big money starts piling in, it could go into a tailspin.
3. Ijjhall said...
Uncle Tom
re your prediction of B and B collapse...
Wasn't the BOE liquidity injection meant to prevent another Northern Rock ? I suspect thanks to the new rules forbidding details being released of who is using the facility B and B will be propped up no matter what. The Taxpayer just won't hear about it.