Wednesday, July 30, 2008

Is anyone, anywhere, and any bank safe?

Lloyds TSB warns of house price misery after posting 70pc profit slump

High street bank Lloyds TSB today warned of a slowing economy and a 10pc-15pc tumble in house prices this year after reporting a 70pc slump in first half profits on the back of further credit market writedowns and volatility in its insurance business.

Posted by whostolemyendowment @ 01:11 PM (1110 views)
Please complete the required fields.



5 thoughts on “Is anyone, anywhere, and any bank safe?

  • shipbuilder says:

    I realise that Lloyd’s are supposedly one of the ‘safer’ banks but my reaction to this is – so what?
    A 70% reduction on once-in-a-lifetime profit levels. Big motor companies have been operating on losses for years – can someone explain how this will lead to some of the doomsday scenarios that are increasingly popular on here?

    Reply
    Please complete the required fields.



  • Something working?

    Reply
    Please complete the required fields.



  • Lloyds might actually be insolvent, but as the nanny state and BoE will bail this latest bunch of munchkins out, it doesn’t really matter in the short term. In the long term the inflationary effects of bank bailout will be massive (don’t keep your savings in £ denominated assets). The interesting bit in the article is the headline: “Lloyds warns of house price misery”. Yep, couldn’t agree more.

    Reply
    Please complete the required fields.



  • Big headline in the Evening Standard includes reference to Northern Rock; expect long lines of people in front of the Bank’s branches tomorrow?

    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Your email address will not be published.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>