Jump to content
House Price Crash Forum
Sign in to follow this  
Optobear

Fsa To Report On Northern Rock ( On Wednesday)

Recommended Posts

Seems the FSA is about to report on Northern Rock tomorrow

http://www.thisismoney.co.uk/investing-and...mp;in_page_id=3

Hope it rebounds on Brown too.

"Complex issues, unprecedented circumstances, general failings, no-one specific to blame. Lessons need to be learnt to ensure this does not reoccur. Senior person to report within three years."

p-o-p

Share this post


Link to post
Share on other sites
"Complex issues, unprecedented circumstances, general failings, no-one specific to blame. Lessons need to be learnt to ensure this does not reoccur. Senior person to report within three years."

p-o-p

promotions and bonuses all round ;p

Edited by moosetea

Share this post


Link to post
Share on other sites
"Complex issues, unprecedented circumstances, general failings, no-one specific to blame. Lessons need to be learnt to ensure this does not reoccur. Senior person to report within three years."

p-o-p

By god man, you've just leaked the whole bloomin report...

Share this post


Link to post
Share on other sites
Seems the FSA is about to report on Northern Rock tomorrow

http://www.thisismoney.co.uk/investing-and...mp;in_page_id=3

Hope it rebounds on Brown too.

If the Hutton report is anything to go by they will say something like:

"Northern Rock had a sound balance sheet and a solid loan book. The temporary problems in the credit markets in America would not have troubled the bank but for irresponsible reporting by the BBC. The BBC's coverage directly provoked the bank run which damaged the bank's position. Had there been no bank run then emergency funding would not have been necessary.

"I am impressed by the quality of the evidence provided by the FSA and Northern Rock but find that the journalistic standards at the BBC are shoddy in the extreme."

Share this post


Link to post
Share on other sites
"unavoidable following subprime problems in the US....."

JERKS....... HELLO!!! There's an ELEPHANT in the ROOM the size of Pluto!! ........... It's called UK "Sub-Prime"..............

Share this post


Link to post
Share on other sites
"Complex issues, unprecedented circumstances, general failings, no-one specific to blame. Lessons need to be learnt to ensure this does not reoccur. Senior person to report within three years."

Do you work for the FSA?

Share this post


Link to post
Share on other sites
Actually, yesterday I was joking, but you did pretty much nail it.

Yup.

Heard the fat one on Breakfast this morning saying that they didn't do this, they didn't do that. They did one thing when they should have done something else.

They should have done a lot of things, but that wouldn't have changed the outcome.

Well how about they should have done something that would have prevented the outcome? :angry:

The problem with NR is not their model, but that it was just an extreme example of what everyone else was doing. In a normal situation, they would have been taken over by another bank, but there was nobody who could do it.

I reckon that is why the govt stepped in and that is why they will have to do the same for the next one.

Share this post


Link to post
Share on other sites
Actually, yesterday I was joking, but you did pretty much nail it.

Please don't credit me with any particular insight. It is just depressing that all these investigations and reports follow the same format and reach similar conclusions.

I'm sure that somewhere on a Government site there is a and ftp folder called 'post ****-up templates and guidance notes'. Sticking to these gives consistency to reports and their outcomes.

p-o-p

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 295 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%



×
×
  • Create New...

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.