Thursday, Nov 19, 2009

Will they call in the bad debts?

Telegraph: UK banks in worse trouble than others, Experian warns

Britain's banks are in a worse state that those anywhere else in the developed world and show no signs of recovery, according to the world's largest credit-checking company.

Posted by teeth @ 01:18 PM (1700 views)
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7 Comments

1. alan said...

Ambrose Evans-Pritchard writes today (with tongue in cheek) about Gold. This is on the back of Soc-Gen comments reported on an earlier thread.

http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/100002059/is-6300-fair-value-for-gold/

Thursday, November 19, 2009 02:44PM Report Comment
 

2. general congreve said...

Gold, what a waste of time!!! I mean you can't eat the stuff can you?

Personally I intend to keep all my savings securely in a combination of paper currency and bank accounts accessible by plastic cards, as we all know paper and plastic are a much nutritious than silly old gold.

Seriously though, when we gold bugs advocate gold we are talking about it being the only form of currency most people will truly trust in the future. Until western debt is sorted at least. $6300 an ounce? I could quite easily see that in the next few years thanks to the run away printing presses and growing demand for a safe haven currency.

Thursday, November 19, 2009 03:21PM Report Comment
 

3. general congreve said...

@2 meant to say 'much more nutritious'!

Thursday, November 19, 2009 03:23PM Report Comment
 

4. icarus said...

"Worse trouble" is vague. If it means more potential writedowns then Experian's data doesn't give access to this kind of information. There's a lot that can weaken any correlation between potential writedowns and willingness to lend. If they mean "less willing to lend" why not just say that?

Thursday, November 19, 2009 03:56PM Report Comment
 

5. mark said...

which banks? I assume they mean state owned ones..

barclays is expanding around world

Thursday, November 19, 2009 04:11PM Report Comment
 

6. timmy t said...

UK banks in worse trouble than others because UK companies are in worse trouble than others because UK consumers are in more debt than others.
Still, at least we're better placed to come out of the recession first and there'll be no more boom and bust huh?

Thursday, November 19, 2009 04:49PM Report Comment
 

7. buctootim said...

Pretty worthless comments from a CEO trying to justify why his results are mediocre, Experian's profits for the year are £210m but are £2billion in debt. My guess is he couldnt get the loan they need.

Thursday, November 19, 2009 09:31PM Report Comment
 

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