Tuesday, June 10, 2008

Another Northern Rock in the making

FSA puts pressure on top five banks to support Bradford & Bingley rights issue

The Financial Services Authority took the unprecedented step of pressuring Britain’s five biggest banks into supporting the revised rescue capital-raising at Bradford & Bingley last week, The Times has learnt.

Posted by paul @ 07:06 AM (544 views)
Please complete the required fields.



2 thoughts on “Another Northern Rock in the making

  • At least two of them have rights issues of their own, and they didn’t have those rights issues to raise money to bail out Bradford and Bingley. They had them to sort out their own problems.

    Reply
    Please complete the required fields.



  • Is this a classic example of robbing from Peter to pay Paul.

    I understand it’s not good to have a bank fail.

    However if none of them have any money I’m somewhat mystified how they can actually support one another, particulary as people are not buying bank shares.

    Further, if the banks are writing off all this money now with 6-7% house price falls err what happens with the inevitable 25% house price falls.

    Reply
    Please complete the required fields.



Add a comment

  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user´s views and not the views of HousePriceCrash.co.uk.
  • Please adhere to the Guidelines

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>