Yanks vote no to bail out.

Big fall everywhere today, before the announcement the FTSE was down 3% or so (due to B&B bailout no doubt), and reached its lowest in 3 years. I think it will continue to fall... and maybe see a few more banks fall.
 
Well with the automobile industry payout, the money to AIG and $200bn for those two people fannie and freddie something...

I freely admit I am not an expert but it seemed to me the whole $700bn plan was the biggest bet in history - that everything would be *OK" and the banks could afford to pay America back :rolleyes:
 
Great, another ridiculously hectic day at work tomorrow (in a bank) with thousands of pensioners scared about their savings, jamming up the phone lines and assuming because the phone lines are jammed we're going under :rolleyes:
 
I have money in an American bank (Fifth Third), any of you financial guru's think I should be worried?:rolleyes:
 
Everything is going to ****. Gonna take a LONG LONG time to recover from this, not sure we will fully recover though :\

I'm worried, yes.
 
We really need to go back to having an interview with the bank manager to explain why we need a loan, but more importantly, how we are going to pay it back! Rampant consumerism is on its last legs, and not before time IMO. If you can't afford it, you can't have it. End of.
 
Dow down 714 if it stays like this it will be a record drop,bigger than 911.
 
Dow down 714 if it stays like this it will be a record drop,bigger than 911.



Well it closed 778 down so it is a record for the Dow, but not quite a crash.

Edit: This a points drop record though and not percentage record.

Going to be an interesting week though as I've seen that they'll reconvene on Friday at the earliest, with no chance of an ammended bill before next week.
 
Last edited:
Great, another ridiculously hectic day at work tomorrow (in a bank) with thousands of pensioners scared about their savings, jamming up the phone lines and assuming because the phone lines are jammed we're going under :rolleyes:

That's because pensioners have been around a while and understand how bad things can get when things do get bad.

Maybe they're right to be worried.
 
Markets in freefall. Are you worried?

Yes.

As a shareholder of Lloyds/RBS I am.

I don't need/want the funds for 15 years or so but I feel for those who rely on shares for dividends/income right now.

As each week goes on, I fear it will take longer and longer for the whole storm to blow over.

Given that HBOS was on the brink before Lloyds (well G Brown) stepped in, there can be no guarantees that even the largest of banks are around in years to come.

If Lloyds do make it through though i'm sure they'll eventually be stronger simply because half of the opposition will have been wiped out.

The Share price collapse (in the past days/weeks/months) for many a FTSE 100 share will take years to recover (imo). I certainly don't see any hope until the turn of the next decade.

That will probably coincide with New Labour being booted out of office too so hopefully 2 things to loook forward to.
 
Last edited:
Yes.

As a shareholder of Lloyds/RBS I am.

I don't need/want the funds for 15 years or so but I feel for those who rely on shares for dividends/income right now.

As each week goes on, I fear it will take longer and longer for the whole storm to blow over.

Given that HBOS was on the brink before Lloyds (well G Brown) stepped in, there can be no guarantees that even the largest of banks are around in years to come.

If Lloyds do make it through though i'm sure they'll eventually be stronger simply because half of the opposition will have been wiped out.

The Share price collapse (in the past days/weeks/months) for many a FTSE 100 share will take years to recover (imo). I certainly don't see any hope until the turn of the next decade.

That will probably coincide with New Labour being booted out of office too so hopefully 2 things to loook forward to.
That was in fact incorrect. HBOS panicked, and yet if they'd waited a few more days, when the figures evened out, they need not have been sold off to Lloyds. That was a sign of how jittery people are, and how even the supposed, 'men who know their stuff' can get it wrong.

NL being booted out and the Tories coming in is something to look forward too in the current economic climate, which is certain to last longer than 18 months? With the Conservatives track record on the economy and 'idiot Osborne' as chancellor? C'mon. :rolleyes: As the opinion polls are showing, not even the DM brigade believe that.
 
I also feel for those that need their dividends and shares now but if you have cash to invest then there are great opportunities. For the rest of us though we just have to weather the storm.....
 
That was in fact incorrect. HBOS panicked, and yet if they'd waited a few more days, when the figures evened out, they need not have been sold off to Lloyds. That was a sign of how jittery people are, and how even the supposed, 'men who know their stuff' can get it wrong.

That is, possibly incorrect to. We'll never know (well not for a while) how much a part Mr Brown played in all this. If they had waited a few more days then they may well have been forced to throw in the towel anyway.

Can you imagine what the HBOS Share price would be now if Lloyds/G Brown hadn't stepped in:rolleyes:

So much speculation anyway and all subject to various opinions.
 
That is, possibly incorrect to. We'll never know (well not for a while) how much a part Mr Brown played in all this. If they had waited a few more days then they may well have been forced to throw in the towel anyway.

Can you imagine what the HBOS Share price would be now if Lloyds/G Brown hadn't stepped in:rolleyes:

So much speculation anyway and all subject to various opinions.
Err, no. The wife was handed that info by one the managers she used to work with - at HBOS. ;):D
 
We really need to go back to having an interview with the bank manager to explain why we need a loan, but more importantly, how we are going to pay it back! Rampant consumerism is on its last legs, and not before time IMO. If you can't afford it, you can't have it. End of.

I work with a guy very close to retirement, and he's always talked about those days, where (his words) "to get a loan you near enough had to prove you didn't need it." :D

Its sounding a lot more sensible to me now than it used to.

Regarding the American bail-out no-vote, the reasons behind the no sound fairly reasonable (I know, the reasons are reasonable?! :rotfl: ). I mean, I'm no expert, but the $700bn would go directly to prop up those responsible for the situation to begin with. Why now (as is exactly the same with our situation here with Northern Rock and B&B), are the taxpayers expected to share in a businesses losses? Were we given any share in the profits when they were doing well? I don't remember getting a cheque for my share of the profits, so why am I (and other taxpayers) now getting a bill for "my share" of their losses?!

Edit: Though, if you look at how Northern Rock and B&B are being handled, the "good" mortgages are being encouraged to move elsewhere, while the "bad" mortgages will remain on the books, and in the case of reposessions, the government will be reposessing the homes. Anyone else see this for what it is - a good, plentiful source of new council housing suddenly available before a general election? At our expense?
 
Last edited:
On the subject of the vote, the two Presidential elects were not persuaded. Neither were millions of Americans. Most of the people crying seems to be those who got everybody into this mess. On the next called-for bailout on these shores will the Prime Minister consult Cameron? :)
 
I'm not an expert by any means on the current economic state, but if governments bail out every financial institution in trouble isn't the message "do what you want with no accountability?"

I understand the importance of supporting big institutes who manage many peoples financial affairs, however, a complete review of financial regulation is needed to ensure a complete miss management of the economy does not happen again!
 
Shame they (congress) couldn't have lied and said 'Yup we'll do it'...... then the banks around the world would have the confidence to lend money (on sensible terms) and we could all move on.

The rest of the economy looks fairly strong (apart from house building related industries).

They will on Friday.
 
Its not all bad,apparently the $D has gained three points against the Matabele Gumbo bead.
 
Any economists out there have predictions as to how this whole mess is going to effect the interest rates?

My biggest fear is the Bank of England are going to start hiking up the rates in the short term to try and off-set the losses being incurred.
 
Which would probably mean,more difficulty in getting a mortgage.

House prices then falling,back to sensible levels.
 
I'm certainly no expert.. :D

IMHO however the BOE is more likely to lower interest rates with the aim of freeing up credit and interbank lending, I think the house market is further down the list of priorities just at the moment.
 

The latest video from AVForums

Is 4K Blu-ray Worth It?
Subscribe to our YouTube channel
Back
Top Bottom