Wednesday, Sep 17, 2008
Red or black: How much is HBOS worth? Have your say
Yahoo: Red or black: How much is HBOS worth? Have your say
check out the comments... I am really surprised we are not seeing queues of people waiting to cash out of halifax............
Posted by mark @ 03:32 PM (849 views) Add Comment
13 Comments
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1. Gorblamme said...
.. just checked my cash out of the Halifax & into the Gordon Rock
2. jonb said...
I've taken some cash out, in case there is a run over the next few days, and I can't get cash out as I need it.
They are geared up for most of their customers taking out money on one particular day anyway, as they have a lot of current account customers, unlike Northern Rock. So in terms of staffing levels, they should cope much better. The customers may ask for more money than normal, so cash machines and branches could run out of cash. That will affect all cash machines, not just Bank of Scotland, Halifax and Sainsburys machines, as you can take the money out anywhere.
I've left my Halifax Regular Saver and Birmingham Midshires where they are for the moment. They are covered by FSCS and as they are long term savings accounts anyway, the delay in getting the money back shouldn't cause too much hardship. When the fixed rate matures next month, it will likely go somewhere else regardless of their financial position, as BM's rates aren't as competitive as when I took it out. That might change of course if they need the money.
Also, if Northern Rock was too big to fail, HBOS is definitely too big to fail. Hopefully as one of the smaller big 5 banks, it is not too big to save either.
As for whether or not the Lloyds TSB takeover will happen, I'm not so sure. If there is a merger between the two, it is more likely that HBOS would take over Lloyds. HBOS is about twice the size of Lloyds, and it has a licence to print money in Scotland, which I imagine they want to keep.
3. V Stor said...
As I understand it their loan model was based essentially on leverage and not depositor loans.
Such finance organisations are essentially broken(for good) but they may add some value to the TSB...
4. Rm96696 said...
How much is hbos worth? The answer is easy: nothing!
5. mark said...
is there enough taxpayers money left to keep bailing out private companies??????????? I for one would be happy to see this bank fail, they are useless and the industry needs a hard lesson....
6. micasasucasa said...
I dislike the way the BBC has been getting "experts" to repeatedly state that all savings (sub-35k per bank group) are safe because the government says so. If it came to the test (i.e. several big banks topple), I doubt the government would stump up trillions to compensate savers...doesn't seem feasible.
7. peter_2008 said...
At the end of today's market, HBOS stands worthing about £15 Bln. After a turbulant day, it settled at nearly -19% (again) at 147p per share.
I got some of my saving (less than £35k) in HBOS should I withdraw some? Even though, I got enough cash in HSBC, Natwest and A&L.
I need to renew my HBOS ISA account soon. Should I move it to somewhere else? Any advice?
8. mark said...
barclays is pretty safe
remember 35k is for a group of the same bank..........so make sure money is split between unrelated banks
9. mark said...
oh yeh it can take months to reclaim your lost money too...
stick it under the bed...
10. quiet guy said...
@Gorblamme
@jonb
I started pulling cash out of my HBOS current account as well. I thought perhaps I was being a bit silly until I read your posts. Having some spare cash to hand could be useful soon.
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