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Traktion

Bank Run/bailout?

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I received a phone call from a friend today, saying that a well known, but recently struggling bank are in trouble again. Word came to him via a Facebook friend who worked for said bank and had been told he no longer had a job (in a local call centre) via text message. It spooked my friend enough to give me a call, after he had withdrawn a load of cash 'just in case'. I thought the guarantees would kick in anyway, but thought it not a bad idea to get a float withdrawn, in case of problems.

Then, I just heard a report that Barclays had a 'glitch' that prevented people withdrawing cash on Saturday and over the weekend (http://uk.news.yahoo.com/22/20100821/tuk-uk-britain-barclays-outage-fa6b408.html). The bank I mention above was not Barclays.

Coincidence? Probably, but thought it worth mentioning... :unsure:

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I received a phone call from a friend today, saying that a well known, but recently struggling bank are in trouble again. Word came to him via a Facebook friend who worked for said bank and had been told he no longer had a job (in a local call centre) via text message. It spooked my friend enough to give me a call, after he had withdrawn a load of cash 'just in case'. I thought the guarantees would kick in anyway, but thought it not a bad idea to get a float withdrawn, in case of problems.

Then, I just heard a report that Barclays had a 'glitch' that prevented people withdrawing cash on Saturday and over the weekend (http://uk.news.yahoo.com/22/20100821/tuk-uk-britain-barclays-outage-fa6b408.html). The bank I mention above was not Barclays.

Coincidence? Probably, but thought it worth mentioning... :unsure:

Come on, tell us who - RBS, HBOS, Lloyds, Northern Crock?

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Come on, tell us who - RBS, HBOS, Lloyds, Northern Crock?

At a risk of getting some legal action on my ass (big bro is watching?), I'm not going to spill. I think we all know which are the 'usual suspects' though! ;)

My friend suggested we would likely find out on the news today anyway (Monday).

P.S. My friend initially said initially that the bank was going to go into liquidation, but then received a bailout. I got this bit via text message and who knows whether the source was genuine, but I know we love even a sniff of rumour and scandal here! ;)

Edited by Traktion

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At a risk of getting some legal action on my ass (big bro is watching?), I'm not going to spill. I think we all know which are the 'usual suspects' though! ;)

My friend suggested we would likely find out on the news today anyway (Monday).

P.S. My friend initially said initially that the bank was going to go into liquidation, but then received a bailout. I got this bit via text message and who knows whether the source was genuine, but I know we love even a sniff of rumour and scandal here! ;)

"Profits yet to materialize - and I'll sue anyone who says otherwise ! "

Must be Santander.

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My friend initially said initially that the bank was going to go into liquidation, but then received a bailout.

Sounds like Chinese whispers.

The main banks are too big to fail, therefore no chance of liquidation. If it's true, it'll be some small offshoot (Icesave et al).

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Sounds like Chinese whispers.

The main banks are too big to fail, therefore no chance of liquidation. If it's true, it'll be some small offshoot (Icesave et al).

Aye, it's probably nothing. I wasn't going to mention it until I heard about the Barclay's glitch. I'm sure we'll find out soon enough!

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  • 150 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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