Friday, May 08, 2009
Bad news best left till last thing on a friday, now move along.
Mail: Royal Bank of Scotland delivers bleak bad debts forecast
Chief executive Stephen Hester reveals that bad debts will soar over the coming year as customers struggle to keep up with their repayments with losses from soured loans quadrupling to £2.9billion in the first three months of 2009. Hester said: 'We'll make a loss for a period of time. We're facing substantial recessions in all the countries in which we operate and we see no greens shoots in our credit exposure.'
Posted by enuii @ 10:31 PM (672 views) Add Comment
8 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. inflation is eating my savings said...
As you drive into Edinburgh coming from the Forth Road Bridge/Sterling direction, in addition to the "Welcome to Edinburgh" there is an add on (in some crappy non-linear font) which says "Inspiring Capital"
Can somebody please vandalise this?
2. inflation is eating my savings said...
Surely someone from Edinburgh can take the broom out of their backside for a second and graffiti this thing? Surely.
3. titaniccaptain said...
@ inflation is eating my savings
How about "Inspiring Capital of Scotland propped up by English taxpayers"......?
4. crunchy said...
1. inflation is eating my savings...
Vandalism now done by Banksy.
This now reads "Capital Spiralling away" (in red spray-can graffiti font)
5. bystander said...
.........and yet RBS shares rise14%, can someone explain this?........and another thing, Crispin Odey's hedge fund has just made many millions from buying Barclays shares at rock bottom, well done him especially as he is married to one of the Barclays clan. Hmmmmm!
6. str 2007 said...
crunchy
very good.
Hi TC how cold was the Atlantic ?
7. mander said...
Maybe half of the shaky American banks have been eaten by the bigger fish. Who can eat RBS?
8. titaniccaptain said...
@STR2007
Stayed in a place called Marazion (Fantastic B&B called the St Michael's guesthouse which I highly recomend) which was a lovely little village not far from St Ives which I found too busy and touristy for me. Marazion has St Michael's mount which I have always wanted to visit and I was not disapointed.
From there we went on to Devon and to a lovely little place called Croyde not far from Saunton and stayed in a caravan so we could put baby in her own room and have a Beer outside on the decking and relax looking out at the sea and the weather wasn't too bad with some lovely sunny moments to go down and paddle by the beach.
Have to say I came away a little disapointed probably because I have been spoilt with holidays in St Davids and the rest or Pembrokeshire which in my mind is the best part of the country....infact all of the western coast line of Wales is something of great wonderment to me..............
Back to the Article.......this is why in my mind all the QE the BOE is pumping out there will have little if no effect on inflation.......I think there has been a black hole created by the bank's "Bad Loans" and all that entails and we are in a deflationary spiral....Anyone who thinks the banks are going to start pumping money outwards into the pockets of the British public with their capital position going from bad to worse is sadly mislead.
Does anyone think that the banks (who were lending to anyone who can meet the difficult criteria of signing on a dotted line) are going to return to lending anything like they were?.......they must of course be seen to be trying to but they never will and that goes not just to mortgages but also to business loans. The knock on effect of which is lower confidence and less interbank lending......its a deflationary spiral that Darling is trying to stop its a bit like the Peter and the Dike story....
Oh yes the caravan was nice too :-)