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zhinzhon

Newsnight Bbc2 @ 10:30 Tonight

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LOL changed my post as LLL would obviously never be on Newsnight, Z.

Chill mate I'm only taking the p*ss cos' you've turned bull so early on. ;)

I am not that serious, I am quite light humoured and have a smile throughout the evening. My best day on here, although I am right about not being a crash.

Jesus if you dont laugh you cry.

:lol:

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Head of the FSA just said that the new Darling Guarantee does NOT apply to all banks, but that Northern Rock is (and I quote) "of systemic importance to the UK".

:blink:

Edited by RJG18

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Head of the FSA just said that the new Darling Guarantee does NOT apply to all banks, but that Northern Rock is (and I quote) "of systemic importance to the UK".

:blink:

The first domino is always the most important. :lol:

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Head of the FSA just said that the new Darling Guarantee does NOT apply to all banks, but that Northern Rock is (and I quote) "of systemic importance to the UK".

:blink:

Systemic importance ?

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Head of the FSA just said that the new Darling Guarantee does NOT apply to all banks, but that Northern Rock is (and I quote) "of systemic importance to the UK".

That was a very significant elaboration on the 'similar circumstances' clause in Darling's announcement if you ask me. Northern Rock was only given the guarantee because of the risk of contagion.

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Damp squib.

HPC and financial meltdown cancelled.

Very disappointing discussion - would have been good to have at least some nod to a bear case.

Irwin Steltzer in the US - said that Bernanke had a tough choice but had got it right.

Former MPC member - said that there was a crisis of confidence here in UK re Northern Rock, but effective the danger has passed and we can draw a line under it, learn lessons and move on.

FSA guy was challenged whether or not BoE would now guarantee all bank deposits, and said that only banks that are of "systemic importance" to the UK economy - by implication saying that NR was such a bank.

Commentators said that there was a risk to the UK economy from falling house prices but the general tone was "phew, we got away with that, let's move on".

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