Top faller in the Banking sector today with a 25% fall are they about to go bust as the housing market stalls .. are they another Northern Rock failure about to blow.

Will be merged with Northern Rock by HMG.

No prizes for guessing how much HMG will be paying for it...

shareholders expected to get nothing

stroreysj - 26 Sep 2008 07:27 - 85 of 109
am i the only buyer out there ? Im either going to be crying in my soup in the poor house or laughing in my Ferrari if this ever sorts itself as will be paying more in capital gains tax on the dividend than i used to earn in the city. Anyway have my limit orders to buy even more if it gets pummeled to the 15p area. Off to the first night F1 Grand prix practice session as likley to be far less stressful

Hope you sold Friday mate.

Shareholders get ZERO!!!



Troubled bank Bradford & Bingley is to be nationalised, the BBC has learned.

Officials from the Treasury and the Financial Services Authority (FSA) have been in talks with executives from the bank in a bid to secure its future.

BBC business editor Robert Peston says the Treasury will then speedily sell B&B's 200 branches and its savings business to a bank or number of banks.

B&B told savers deposits were safe and Treasury minister Yvette Cooper said they would be "properly protected".

Ms Cooper told the BBC negotiations were still ongoing, but the chancellor would make a statement before the markets opened on Monday.

"We've been very clear that the priority is to make sure that depositors, that ordinary savers, are properly protected, but also that we can support the financial stability of the banking system as a whole."

B&B's share price plummeted to a record low last week.

and why should they get anything?

just come back from a fantastic grand prix and very happy Alonso won. This has just brought me back to earth with a bump. 85k out of pocket now thats what i call a big bump. Once again common day theft from the british government

what theft? ..... you reckon B&B was going to survive or have you just been making some other bad investment choices?

I would think stupidity of the shareholders not to rein in the board!

Capitalism gone mad!

Without Govt intervention BB was busted. The big picture is to regain global financial stability, not to protect shareholders, especially those trying to bottom fish in the hope of making a killing.

Don't say we did not warn you last week.

Let's see how the markets react on Monday. I for one will be shorting stocks in the main for the rest of this year at least.

can't believe i was so thick as not to short "banking sector" some time ago ...... it just never crossed my mind to ask if one could, and of course one can as well as any number of others .... anyway, for tomorrow at least, still probably plenty to be made long on the indices in general

storey

Sorry mate. Bottom fishing is a dangerous game as I know. It can make you loads but of course it can do the opposite.

At least I hope the Grand prix was good.

live by the sword die by the sword. Sometime it comes off sometimes it doesn't not something im going to loose sleep over as out of my hands. As for cynic while I accept the the governements position with NR and the need to get back the BOE emergency loans this situation is not the same for B&B. They are still a well capitalised bank, although admittedly not as good as they were with the recent withdrawls, there has been no emergency loan and the government has acquired 51 billion of assets in addition to receiving cash from santander for the branch network. With a cmpany who had a technical book value of less than 400 million on Friday I fail to see how there is nothing for shareholders, hence the use of the word theft. If you don't see that you are either one of Gordon's or Alister's love children, harmour a deep rooted resentment to investors or just plain stupid. Reading your numerous posts over the years I don't believe it that latter. Anyway im still smiling

strorey .... glad you don't think i am stupid, though i do not altogether subscribe that view, but you are well wide of the mark with your other accusations or assumptions - lol!

sorry to say, but B&B were very clearly not as well capitalised as you like to delude yourself ..... common sense should ask if any democratic government (except perhaps of venezuela and the ilk) would want to nationalise a bank unless it was seen to be the lesser of two evils,

Cynic quite clearly the case but i still think its criminal what they have done to shareholders and also pinned all other banks on the hook. Anyway hasnt wiped me out, although had a good go. Im off for some gratuitious sex in Indonesia, lick my wounds and come back tomorrow for another beating tomorrow

Frankly speaking....it's a right mess.....the decision to natioalise BB....is it the right one or not ?......and where do you stop ?....if my little business goes bust nobody is going to help me, so why should this government help other private institutions ?.

Storeysj

Sorry to read of your loss on BB., I'm sure you will make up for it one way or another. I must admit I did look last week at BB. when it was 25p, with a view of a modest long in the hope it might be taken over.

I knew it was a bit of gamble, but fortunately I didn't trade, I think I was starting to overtrade with stocks, which is a very tempting thing to do in these markets. So lesson learnt and I will play more golf this week, not as exciting as gratuitious sex agreed, and I will wait for the dust to settle.

i too am sorry for your loss strorey, but the gov't has assuredly acted in everyone's best interest .... the shareholders were going to end up with nothing anyway ..... whether the directors of B&B acted recklessly is a slightly different question, but they would seem to have been no more reckless than a stack of other far bigger names - e.g. lehman and fortis and hbos to name but 3

it was halifax that was problem in hbos...........and it was andy hornby who kept on buying housebuilders. hbos is still ok though unlike other comparisons u make cynic whether its lehman or b&B........sorry story as well, my heart goes out to u