any comments, thoughts, on this stock.

Southern Rock? Hell, whats the ticker, i want to short it...!

For Southern Rock try AL.!

Very firmly disagree!!!!
Firstly, people queued to take money out and keep it out. It didn't all transfer to another bank. If a major retail bank was allowed to collapse, then the queues to withdraw cash at all the others would be huge. Not loans obviously, but therein lies a recipe to turn every bank into a rock clone.
Secondly, I hear rumours of a certain large bank, based in London, who are restricting their policy on lending to existing channels, which is exactly how the rock first reacted last summer. If they are in trouble, HMG will do exactly the same.
Finally, most of the banks have applied for or taken emergency funding, either from HMG or the ECB, just much more quietly.
As a footnote, the sub prime crisis is showing signs of abating. A smaller lender has developed a product to fill the niche, using the Swiss LIBOR markets and hedging the currency. The client is left with a product with no currency risk and a rate for someone with unlimited credit problems of just 7.39% tracker. Lower than some high street standard variable rates.
Suddenly money is affordable again and accessible for those who have fuelled the economy for a decade. If it works then others will follow suit.

We await AL' s results tomorrow should make interesting comparisons with NRK.

thought they were thursday..???

Tomorrow.

Agree with the Swiss Franc comment, this currency could well be the next carry trade.

Hoping for nice figures from Alliance, Lloyds and is it HSBC next week???, just so i can short the finance/bank sector after the rise, its my belief that despite what they announce, America will still be the cause of a lot of financial pain in the coming weeks...

nrk not all over by a long way lot of fighting to be done yet have faith

Between a rock and a hard place if you ask me....




;-) apologies, had to be said.

The Treasury is expected to appoint an independent valuer next week to assess how much the government should pay to purchase the bank on the basis that it is 'not a going concern' and effectively bankrupt... Kind of answers itself that one, if bankrupt either a negative or no value exists... Meanwhile Granite has emerged as the owner of 49bln of mortgages that were sold by Northern Rock and moved off-shore to the tax haven of Jersey. Granite, which was set up by Northern Rock to raise cheap money, sold bonds to investors and used the proceeds to issue new mortgages. This could well potentially fully de-rail government Nationalisation attempts because in a nut-shell if you stop writing mortgages then Granite dissolves and you have to pay back all the Granite bonds..!! In principle if Northern Rock doesn't keep supplying Granite with new mortgages the trustees of the fund could call for a 'rapid amortisation' of Granite which would require bondholders to be paid back in full. Now should this happen then Northern Rock is incapable of returning the funds and the government wouldn't be currently liable... Kind of leaves two options open, a contract of understanding between the trustees of Granite and the Government or place Northern Rock into administration where all funds raised offset deposit accounts and the tax-payer foots the rest... Smells like a fire sale could well emerge, interesting days ahead....

its all a big joke as far as im concerned,the great train robbers got 30 year,the goverment get nothing,theyre trying to steal a lot more than them and it was the treasury to blaim,a lot of fighting to be done yet game only beggining

any one know what will happen now? pls let me konw

Shareholders won't get anything. Best to write off your holding and move on.

GOODBYE NEWCASTLE.

Dont you say that.... but they re shite i admit...!

Does anyone know what is happening regarding comensation for the shares, I know most people are saying we will get zilch, although hope is not lost for the small investors that bought the shares at a small price, news has been published that the hedge investors will take legal action against the govenment should the compensation be less than 4 whilst i apperciate that we may get nothing, i have heard little news on whats happening - does anyone have any views on this and the time scale?
your honesty will be appreciated.

You want compensation from our Labour/Brown goverment?

Yo must be Joking!!

Lets correct that, compensation from the government paid for by the tax payer.... Lets not forget by taking the government to court the tax payer gets the bill, can the tax payer actully be sued...?? Good question, if not you get nothing if so then something which I guess would be pretty small.

Just wanted to share this quote from the FT with you all:

"Northern Rock's results -- with almost surreal understatement, Northern Rock's executive chairman described 2007 as 'challenging'. Given that the bank went bust, one shudders to think what a terrible year might be."