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.

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

Not getting any better this market....goes from bad to worse...!.

only get better with a change of gov

Am I dreaming, or did Andy Hornby's name appear in the list of Directors for the combined LLOY-BOS ?
-Surely he should never work again.

B&B
-Along with Northwern Rock, the shareholders are wicked people who dare make money from the investments of the business. Because of this, they deserve nothing! Odd then that savers, who . . . expect a return from the investments of the business . . . have a g'tee scheme to refund every penny.
Even more odd that these are often the same people - who were given shares when Demutalised . . . . and don't they regret that now? This includes staff who will be lucky to find jobs in finance due to the much-lower levels of activity, mortgage, etc.
Demutalising was a con perpetuated by greedy Management . . . .( and I see parallels with Cattles, down 8% today DYOR).
Unfortunately the folk that destroyed these businesses appear to get-off and even have the nerve to collect Golden handshakes, pensions etc for their poor stewardship.
What is almost absent is any shareholder-Power to stop thisManagement excess - shareholders are not allowed to critisise Management - AGM's are by-and-large a joke although some companies retain old-fashioned values on the surface.

+I wonder if the Mutual Company would still be in business . . . and I have a suspicion they would, albeit smaller - but with actual cash in their vaults and not rotten, stinking, low-grade mortgages and dubious loans.

cynic I'm not convinced this "nationalising" is in everyone's interest - Short-term it saves GB from worse as it buys respite and many will believe all is OK - but taxpayers are the same people that will lose out if B&B went under - all we are doing is spreading the cost over more folks - and some are already on the breadline - yet all are expected to contribute to this fiasco - just the same as all Londoners are contributing 30p/week to the Olympic fund....whatever happened to "No taxation, without Representation"? I live in London and have no say - the 2012 Olympics will be a very expensive Political Jamboree - IMHO.

Scotinvestor, what are yr views on the new LLOY-BOS? - as I see it, my LLOY investment has seen a recent fall of 30% - maybe this represents the "dilution" despite their assurances the combined company will have much more turnover, profit etc. - at least long-term when the current woes are a distant memory (and Britain is winning Gold at the London Olympics. dream-on).

Arrgh!

nationalisation means taxpayers paying for years if not decades to come.....nrk is costing everyone at least 3k or 4k.

i believe andy hornby got senior role as he has to convince shareholders as well as almost every person in scotland that LLoyds deal is good........HBOS are valued at about 5 so lloy are getting it for a song........hence why hornby getting 2 miilion quid in shares plus senior role as a bribe (err i mean incentive).......oops am i being cynical, tsk tsk.

i agree that hornby shouldnt work even 1 day in a bank ever again.....i woouldnt have him in charge of a sweetie shop let alone anything else

Lost a bit on these nothing else to say.