any comments, thoughts, on this stock.

life changing hit possible , what bugs me here are the shorts gloating and trying to drive the price down further with no consideration for the 1.5 million depositors with nrk and the fallout with other banks if something serious happens - mindless Sun readers all!

Comments on a bb make no difference to what is happening in the market place, those that think they are achieving something with a "clever" comment are just deluding themselves.

Those others that think they do should think again.

Bad luck md, it could have been me.

While Northern Rock is the bank in the press, I suspect the wider run on banks may be down to speculation ahead of the US banking season results. If losses are bad then I guess it would impact UK banks too. It could just be people are selling with the crowd now just in case because it's like shooting fish in a barrel. Of course the unexpected could always happen. If the Fed decides to drop interest rates dramatically, and the banks losses are only moderate, the shorters could well get a nasty surprise. They certainly won't be gloating then.

In my opinion....

Strawbs.

600 posts already over on the dark side , 598 of which are trash!

i do not think any deposits with NRK are at risk .... BoE could not and would not let that happen

And for my next stupid investment..........WLW short term long. Interims Wednesday should show a few good things. (EUK)

I must be mad!

sww , the wlw shop near me is a real mess , hope the bet works out

Thanks md, I see another line of support has broken here........

Commentator on the home service (R4) lunchhtime news siad NRK could well be taken over by another bank - for nothing.

but that would not mean the shares would be worth NIL, or i think not anyway

250p by 4 O'clock.

nrk could be carved up.and the shares worthless.i'll stay away>>>>>>>>>>>>>>

"but that would not mean the shares would be worth NIL, or i think not anyway "

Unfortunately, unless the BoE can convince other banks to lend to NRK that is the case.

The commentator was the economics guy from the times with the 'Polish name' by the way (Kablinski?)

I'm neither short or long just interested.

Merrill Lynch cut its stance to 'neutral' from 'buy', while UBS slashed its target to 445p from 805p and Cazenove reduced its current year EPS estimates by 53%.

In the light of growing speculation the troubled bank may be taken over, Panmure Gordon thought a takeout price for the Rock could be somewhere between 1p and 400p per share depending on quality of its book. It also slashed its target by half to 300p and reiterated its 'sell' rating.

Sector peer Alliance & Leicester also slid, down 128p to 745p, amid the fall-out from Northern Rock with sentiment also hit after Merrill Lynch cut its stance to 'sell' from 'neutral'.

This is one of the fruits of our ex prudent chancellor. Next would be housing crash.

someone who is much cleverer than i (not difficult!) might be able to work out some sort of realistic value of NRK, given that BoE swear blind that the company is truly solvent.

How much of this Yankie rubiish is NRK holdin?

UK suffers at the thin end of the subprime wedge

When US banks first began the big repackage of subprime debt, they had a problem shifting it to American buyers. So they sold it abroad.

And it would seem, that among the suckers who bought it, the UK ranks quite highly

http://ftalphaville.ft.com/blog/2007/09/17/7346/uk-suffers-at-the-thin-end-of-the-subprime-wedge/

Northern Rock financed 77 per cent of its assets through the money markets - and a disturbing 44 per cent through risky securitised products, according to CreditSights:

this is only the tip of the iceberg.to quote Mrs tatcher i will only say one thing,
it's got to get a lot worse before it gets better,i think 2008 will be the start of adifficult times ahead::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::

Sitting on the sidelines with cash still feels the best thing to do at the mo (until volatility blows over) and liability becomes clearer, good luck to people still trading (with stop loses in place of course).

Ed: Sorry wrong thread.

NEW YORK, Sept 17 (Reuters) - Fitch Ratings on Monday cut its rating for British bank Northern Rock (NRK.L: Quote, Profile , Research), citing a loss of confidence by some depositors that could limit the company's funding options.

Northern Rock faced long lines of customers seeking to withdraw savings and a plunging share price on Monday after the Bank of England stepped in last week to rescue the bank, Britain's fifth-biggest mortgage lender.

The bank on Monday said it had not yet drawn any funds from the emergency facility it had arranged with the Bank of England.

Fitch's downgrade is "based on the increased negative sentiment from wholesale market participants and retail depositors, which has severely strained the bank's funding options," the rating agency said in a statement.



Fitch cut Northern Rock's long-term issuer default rating by one notch to "A-minus," the seventh-highest investment-grade ranking, from "A."

The rating company gave Northern Rock a stable outlook, meaning it does not expect further rating changes in the next one to two years.