Jump to content
House Price Crash Forum
Sign in to follow this  
Oh Give Me A Home

West Bromwich Building Society Will Be Rescued Within The Coming Days, The Bbc Has Learned.

Recommended Posts

http://news.bbc.co.uk/1/hi/world/8095581.stm

Rescue plan for West Bromwich BS

West Bromwich Building Society will be rescued within the next few days, BBC business editor Robert Peston has learnt.

Savers at West Brom will not lose a penny and it should be business as usual for the society's mortgage borrowers, our correspondent says.

There have been rumours for weeks about the West Bromwich Building Society being in trouble.

The society operates 46 branches and has about 350,000 customers.

--------------------

Edited by HouseDog

Share this post


Link to post
Share on other sites

Ross and Brand cause distress to one person - all hell breaks loose.

On Tuesday, Peston announces at 7:30am on the radio, that all the C&G branches are to be closed, knowing that the staff were due to be told during the course of the day, and until then knew nothing about it. 1600 people distressed (plus families)

Who is controlling him and his selfish drive for `scoops' that the public don't have any reason to know about yet? Would the world have been a worse place if he had waited until the evening news to comment?

Lets hope that this West Brom thing isn't scuppered by him reporting it now rather than letting those involved work out the details.

Perhaps one day, if the BBC decide to ditch him, they will announce it on the Today programme whilst he is driving to the meeting to hear the news.

Y

Share this post


Link to post
Share on other sites
Ross and Brand cause distress to one person - all hell breaks loose.

On Tuesday, Peston announces at 7:30am on the radio, that all the C&G branches are to be closed, knowing that the staff were due to be told during the course of the day, and until then knew nothing about it. 1600 people distressed (plus families)

Who is controlling him and his selfish drive for `scoops' that the public don't have any reason to know about yet? Would the world have been a worse place if he had waited until the evening news to comment?

Lets hope that this West Brom thing isn't scuppered by him reporting it now rather than letting those involved work out the details.

Perhaps one day, if the BBC decide to ditch him, they will announce it on the Today programme whilst he is driving to the meeting to hear the news.

Y

+1

Share this post


Link to post
Share on other sites
West Bromwich Building Society will be rescued within the coming days, the BBC has learned. :blink:

Source: BBC New Ticker

Sign of a recovery that!

Share this post


Link to post
Share on other sites

Not surprised - my first mortgage (self employed, self cert - liar loan for Eric), was through G-MAC RFC, who you will note are now paying people to leave them.

This was sold to West Bromwich within the first few months. I was/am a good risk IMO but I know from experience that GMAC would take anybody on.

Share this post


Link to post
Share on other sites
And I don't think West Bromwich are the only ones.

A series of BS`s going down and a bond market crisis will be the perfect backdrop to Gordon`s final meltdown. I fully expect to see him collapse at PMQ`s one day. How far will he be forced to watch interest rates climb, 18%?

Share this post


Link to post
Share on other sites
it needs to go higher than that

why the hell are the BBC being fed this information

and we used to mock the communist state broadcasting channels

Because there must be factions in the Government and in the BBC that want rid of Brown? The printy printy must be starting to piss people off?

Share this post


Link to post
Share on other sites
The sense of negative sentiment among the sheeple is going to be heightened again, they know it has just got started.

I don't think so. They will be told that this a situation left over from the bad days of a recession that 'we' are now climbing out of.

It is thus in reality a non-event.

Copyright Laura Berlesconi 2009. (just in case the spinning machine nicks my idea)

Share this post


Link to post
Share on other sites
it needs to go higher than that

why the hell are the BBC being fed this information

and we used to mock the communist state broadcasting channels

It's quite simple - they are 'framing' the news in a way that's beneficial to the banking industry and the government. Can you imagine what might happen if the Telegraph got hold of the news first, or - god forbid - Jeff Randall.

Share this post


Link to post
Share on other sites

Looking at the BBC and Reuters coverage of the rising pound story.

BBC emphasis - pound rose because the recession is ending.

http://news.bbc.co.uk/1/hi/business/8094729.stm

Reuters emphasis - pound rose because of rising inflation expectations.

http://www.reuters.com/article/usDollarRpt...B51992020090611

Go figure.

Blatant Auntie Pravda propogandizing.

Edited by gruffydd

Share this post


Link to post
Share on other sites
It's quite simple - they are 'framing' the news in a way that's beneficial to the banking industry and the government. Can you imagine what might happen if the Telegraph got hold of the news first, or - god forbid - Jeff Randall.

How can another one going pop be beneficial though? It invokes the idea of savers having to be bailed out with printed money. the sheeple don`t like that, they like to think that their money, like their houses, has "strong intrinsic value" A lot more carnage to come IMO.

Share this post


Link to post
Share on other sites

Its really quite simple:

"The regulators are keen to keep the mutual sector alive and allow the West Brom to continue as a going concern by allowing it to convert its debts into a new form of equity that will bolster its regulatory cushion."

Nothing to worrry about then, move along, move along.

Share this post


Link to post
Share on other sites

from the Telegraph

The 160-year-old mutual said in a statement on Thursday that it is in advanced talks with holders of its subordinated - or lower-ranked - debt about exchanging the debt for a new, as yet undisclosed, instrument.

what, like a Cash Trumpet?

Share this post


Link to post
Share on other sites

better than a cash trumpet, they have the full magic orchestra

West Bromwich Building Society gave itself a fighting chance for an independent future after using a new financial instrument to make it one of the most secure lenders in the country.

that's alright then

having reviewed my finances in a special spreadsheet it appears i own the whole country

Behold my majesty and wallet

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   296 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.