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Sometime between 6-7

(I should of noticed the time, but hey, I had just woke up :) )

They were talking about B&B. They read out a letter.

The basic gist was that a listener had a lot of money trapped in a fixed rate bond,

due to come up in November. The listener as panicking "unable to sleep" etc.

I should point out that I do feel sorry for her (the listener).

But it is a sign that depositors are now getting worried....

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She won't be the only one since B&B were top of the best buy tables throughout the first few months of the year. I've got 10% of my STR fund in there too :unsure:

Hmm this is a bit interesting.

Are you going to take it out?

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She won't be the only one since B&B were top of the best buy tables throughout the first few months of the year. I've got 10% of my STR fund in there too :unsure:

I suspect crash Gordon was behind the orders to the banks to rescue B&B late last night:

http://www.dailymail.co.uk/home/index.html

Britain's Big Six banks staged a dramatic rescue of Bradford & Bingley last night in a bid to avert a new Northern Rock crisis. Under pressure from the financial services regulator*, they agreed to buy a large chunk of shares in the beleaguered bank.

________________

* Crash Gordon?

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Hmm this is a bit interesting.

Are you going to take it out?

under the T&Cs for all of the rate leading bonds issued you cannot access the capital until the end of the fixed term

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She won't be the only one since B&B were top of the best buy tables throughout the first few months of the year. I've got 10% of my STR fund in there too :unsure:

I've just opened an account with B & B with a small deposit (£100)with the intention of transferring more money in but admit that I've held back on that for the moment. As you say they are top of the best buy tables.

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B&B needs more cash than anyone else. I heard the today programme on the subject, I was screaming at the radio to get the money out. Here is my reasoning

1 - Banks should only have your money if they prove themselves to be sensible with it. B&B have been lending money to anyone with a pulse. I shaved a bulldog and sent him into a branch and he came out with enough money to purchase two luxury executive apartments, his business plan consisted of a paw print and a resounding woof. Do you really want these people to have your deposit

2 - After the collapse of talks on a buyout, for unknown reasons. Would you be happy to leave the money there?

3 - The frightening point from Radio 4 this morning was the impression that the BoE and the Treasury were trying to get the larger banks to bail B&B out. Moving deposits out may cause this to stop happening. This would prevent contagion spreading further than it already has. Which is a good thing.

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Guest KingCharles1st
I suspect crash Gordon was behind the orders to the banks to rescue B&B late last night:

'Course he was!.... can't have the guvment being seen to sort out any more banking crisis' can we, on the same day that all the big builders gutters flow read with the blood of the unwashed.

Also, I think there has been a partial news blackout on B&B, I've certainly heard very little about it on the Radio.

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Also, I think there has been a partial news blackout on B&B, I've certainly heard very little about it on the Radio.

Now that it's front page on the Mail and a leader on Sky we'll be hearing a little more I think. And there's plenty of comment today in the Times et al about yesterday's share price crash.

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B&B needs more cash than anyone else. I heard the today programme on the subject, I was screaming at the radio to get the money out. Here is my reasoning

This is the point, B&B have been marketing table topping Fixed Rate Bond Deals where you cannot get the money out :huh:

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Gordon's already shown his hand with Northern Crock. Any hint of a run on Band B and precedent will be cited and the government will be forced to underwrite all deposits. The labour governement are on course to becoming the largest property owner in the world after the FED.

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The big problem with these shenanigans and secret deals is that it allows the big players to get their money out and the big bosses to feather their nests prior to exit, whilst the ordinary punter is unaware of the seriousness of the situation ('it must be OK, the regulator says so...' 'the Government says it's fine'), when they would be better suited to take the money out.

A business badly run, by incompetent management, without a sound business model.

As ever, the people with most to lose (Joe Public) are the last to know. The crooks and the scumbags will be long gone with their money. A complicit government and regulator - not because it's the right thing to do but that it covers their ar5es.

Not-so-great Britain, the financial centre cesspit of the world.

Edited by tinker

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I suspect there is only one place the money will end up coming from to bail out B&B, and that's the taxpayer. Every attempt will be made to cover this up of course.

No bank in their right mind would buy into B&B. Virgin described anyone wanting to do so as 'insane'. The theoretical share price has been calculated by analysts as -16p ! Now why would you want to buy into that ?

As for all the spin on the media about B&B not being another Northern Rock - no one has pointed out that the quality of B&B's loan book is significantly worse than NR. This supposed 'funding' that lasts to the end of the year must be pretty large if it can absorb all the deposit withdrawals, defaults and arrears ! I don't believe a word of it.

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Guest KingCharles1st
The big problem with these shenanigans and secret deals is that it allows the big players to get their money out and the big bosses to feather their nests prior to exit, whilst the ordinary punter is unaware of the seriousness of the situation ('it must be OK, the regulator says so...' 'the Government says it's fine'), when they would be better suited to take the money out.

A business badly run, by incompetent management, without a sound business model.

As ever, the people with most to lose (Joe Public) is the last to know. The crooks and the scumbags will be long gone with their money. A complicit government and regulator - not because it's the right thing to do but that it covers their ar5es.

Not-so-great Britain, the financial centre cesspit of the world.

A good point- well made.. :angry:

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No bank in their right mind would buy into B&B. Virgin described anyone wanting to do so as 'insane'. The theoretical share price has been calculated by analysts as -16p ! Now why would you want to buy into that ?

Share price zoomed up ysterday!

Everyone suspects banks clubbed together to buy those -16p shares.

Something doesnt compute.

bradford_27__rise.doc

bradford_27__rise.doc

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Share price zoomed up ysterday!

Everyone suspects banks clubbed together to buy those -16p shares.

Something doesnt compute.

Short sellers having to buy?

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  • 400 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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