No. The idea was to prevent further panic so other banks COULDN'T go the same way

And in any case, Northern Rock was a major exception, because its whole business strategy was so dependent on the subprime market. No other UK bank is in the same position.

Posted By: thebigfeller on November 21st 2007 at 13:23:38

Message Thread

FAO Old Git (General Chat) - thebigfeller, Nov 21, 12:58:26
- So if other banks go the same way...... (General Chat) - Kirrie, Nov 21, 13:21:00
  - No. The idea was to prevent further panic so other banks COULDN'T go the same way (General Chat) - thebigfeller, Nov 21, 13:23:38
    - I'm not so sure - barclays have just announce an 800 million write-down..... (General Chat) - Kirrie, Nov 21, 13:27:59
      - No chance of that, of course! (General Chat) - thebigfeller, Nov 21, 13:30:58
    - Except, it would seem, Paragon, though I have no idea (General Chat) - CB41, Nov 21, 13:25:11
      - specialise in buy-to-lets (n/m) (General Chat) - Stoopish, Nov 21, 13:25:49
    - Bradford and Bingley *cough* Alliance & Leicester *Cough* (n/m) (General Chat) - Stoopish, Nov 21, 13:24:24
      - Neither are in any danger. (n/m) (General Chat) - thebigfeller, Nov 21, 13:29:19
        
        sorry, I now agree with OG on this one. You really don't have a clue about this (General Chat) - Stoopish, Nov 21, 13:30:45
        
        Nice selective quoting, Stoopish (General Chat) - thebigfeller, Nov 21, 13:32:45
- Jeff Randall on Northern Rock (General Chat) - KentonCanary, Nov 21, 13:09:54
  - Agreed - good balanced article! (n/m) (General Chat) - Kirrie, Nov 21, 13:22:17
- .... (General Chat) - CB41, Nov 21, 13:03:19
  - Clueless (General Chat) - Old Git, Nov 21, 13:08:04
    - But wasn't everyone calling for de-regulation in order to (General Chat) - CB41, Nov 21, 13:13:52
      - Mainly Cameron, in fact... (n/m) (General Chat) - Cannydc, Nov 21, 13:21:02
      - Correct. We wouldn't have had such a successful economy over the last decade without it (General Chat) - thebigfeller, Nov 21, 13:20:59
        
        Indeed it is. (General Chat) - thebigfeller, Nov 21, 13:26:03
        
        the best example of that was Maggie Thatcher's government in the early years! (n/m) (General Chat) - Kirrie, Nov 21, 13:31:59
        
        Except things are on a much steadier footing now (General Chat) - thebigfeller, Nov 21, 13:34:02
        
        Again I'm not so sure - Gordon's chickens are about to come home to roost.... (General Chat) - Kirrie, Nov 21, 13:36:25
        
        Thats a very brave statement and not one you can back up! (n/m) (General Chat) - Kirrie, Nov 21, 13:23:59
- Oh ffs (General Chat) - Old Git, Nov 21, 13:00:13
  - Good (General Chat) - thebigfeller, Nov 21, 13:06:26
    - How do they get the money back? (n/m) (General Chat) - Old Git, Nov 21, 13:07:12
      - Do you understand the meaning of the word 'loan'? (n/m) (General Chat) - thebigfeller, Nov 21, 13:08:46
        
        See Leeds Utd for solution to debts (General Chat) - pants, Nov 21, 13:18:06
        
        How about "creditworthy"? If you lend £40 billion to pants, are you going to get it back? (General Chat) - Old Git, Nov 21, 13:12:05
        
        Er - I don't think there was ever a possibility of pants being taken over (General Chat) - thebigfeller, Nov 21, 13:17:22
        
        Darling has been a little circumspect when it comes to whether we'll get it all back. (n/m) (General Chat) - yarmyyarmy, Nov 21, 13:11:24
  - If they let such a large bank fail (General Chat) - Cannydc, Nov 21, 13:05:16
  - and can I add (General Chat) - Stoopish, Nov 21, 13:04:45
    - Abbey would have gone years ago without Santander. (n/m) (General Chat) - tudders, Nov 21, 13:12:33
      - Or that vid of her doing blowys. (n/m) (General Chat) - malkybarkid, Nov 21, 13:14:42
    - Agreed with all that. Thank fuck there is another adult on the board (General Chat) - Old Git, Nov 21, 13:06:53
      - Yes (General Chat) - thebigfeller, Nov 21, 13:08:26
        
        but they did create total panic (General Chat) - Stoopish, Nov 21, 13:11:51
      - I have my moments OG (General Chat) - Stoopish, Nov 21, 13:07:38
  - Yes but what are they supposed to do, let hundreds of (General Chat) - CB41, Nov 21, 13:04:44
    - Paying out on the depost guarantee would have cost a FUCK of a lot less (General Chat) - Old Git, Nov 21, 13:06:09
      - It has so far cost nothing (General Chat) - Cannydc, Nov 21, 13:11:02
        
        solid? (General Chat) - Stoopish, Nov 21, 13:13:32

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