need some bold action - some balls of steel
everything else has failed!

gla

Most stocks and Indices are well oversold but Friday is not the time to be too brave unless you buy for long term. I have bought a couple of stocks today BOK and SMDR.

sensible strategy bm - you will do well if not already

Thank's gibby a nice profit on my shorts this morning but closed them now best not be too greedy as the fools open soon 14.30 and anything can happen.

lol well done

Buy Green belt land in Basildon and build a bungalow and you wont be evicted.

Its all legal.

Only if you are a pikey

Done the same here in Bishops Stortford.Caravan park on green belt land next to
million pound properties or they were.

lol yes lets set up a plc - snap up green belt land - completely ignore the law of the land - dont pay council tax - bleed the benefits system dry - have two dozen kids - dont pay tax on illegitimate "businesses" dog fighting and bare fist fighting a treat for the kids, build without planning permission - but best of all - use the Human Rights Act to stay forever and be above the law laughing in the face of law biding citizens whilst at the same time threatening these kindly people causing mayhem and using their gardens as khazis - ITS A NO BRAINER - A SURE FIRE WINNER especially with any government too gutless to do anything about it

yeeeeeeeeeeeeeeeeeeeeeeehaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa

oh and dont forget to get your representation FREE on LEGAL AID!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! if you have a few elderly relatives get them on the tv for sympathy although they are likely not that unwell in reality

yep UK PLC - treat your decent citizens like dirt - look after the rogues that other countries (ireland in this case) are glad to see the back of

you know it makes sense!!!!!!!!!!!!!!!!!! wheres me straight jacket and padded room gone to - the lunatics are running the asylum!!

.

most definitely mn! just that they dont need to pretend to be mad.................

Looks like we may be able to break resistance level

Not sure the chart is really much help atm.

?

http://www.bbc.co.uk/news/business-15090761

NBNK bids 1.5bn for Lloyds branches despite cost of credit




20:54, Wednesday 28 September 2011

Lloyds Banking Group (LSE: LLOY.L - news) 's attempt to drum up a competitive auction for its 632 branches has been dealt a blow by a sharp increase in the cost of the credit line it has pledged to provide bidders.

As the September 28 deadline for offers passed on Wednesday, only NBNK tabled an indicative bid of around 1.5bn. Its (Paris: FR0010370163 - news) rivals, Co-operative Financial Services and investment firm Sun Capital, are thought to be struggling with a sudden rise in the cost of the 10bn to 15bn of wholesale funding needed to complete the deal.

NBNK, the start-up chaired by Lord Levene and led by former Northern Rock chief executive Gary Hoffman, is expected to confirm its approach on Thursday. Lloyds is selling 632 branches, its TSB (KOSDAQ: 045340.KQ - news) and Intelligence Finance brands, 64bn of loans and 32bn of deposits. The disposal was required by Brussels as a condition of receiving 20bn of state aid during the financial crisis.

None of the potential bidders is believed to be interested in the full loan book due to the vast 32bn "funding gap" between deposits and loans. Instead, they are after a smaller portfolio worth 46bn to 47bn.

To close the gap further, Lloyds has committed to inject another 5bn of deposits by 2013 into the businesses being sold, known as "Project Verde". It also intends to provide bidders a three-year funding line, backed by Citi and JP Morgan, to make up the 10bn shortfall.

Bid preparations, though, have been thrown into disarray by the price of the funding. The credit line was originally priced at 150 basis points over Libor, but the banks have increased the rate due to the recent market panic. At the same time, Libor has also risen. The increase in the cost is believed to be more than 50m 10pc of the annual profits Lloyds estimates Verde is making.

There are also questions about whether the Financial Services Authority (FSA) will allow a new bank to operate with just three years of funding in place for a quarter of the loan book. Insiders suggested Lloyds will either have to add more deposits to Verde or provide backstop funding itself.

Both the Co-op and Sun, which is backed by entrepreneur Hugh Osmond, are believed to remain interested and are reviewing their options. Lloyds, which may also float Verde, is keen to offer NBNK some competition and is keeping the door open.

NBNK's 1.5bn bid would mean the 41pc-state-backed bank making a loss, as Lloyds values Verde at about 2.3bn. However, NBNK would have to inject a further 1bn in capital to meet FSA rules.

well picked up dc - this has been in the air for a little while now - gl

Lets see what happens tomorrow

Dow down 180 points tonight expect Lloyds to be market down.