Turners may have left cos their business is in the s**t!

Reading between the lines, it appears to me that they have made alot of money fairly quickly, most probably in the so called 'sub-prime' mortgage market and they probably have some exposure to the collapsed market for such products in the US.

RBS has written off over ?5 billion in losses from US 'sub primes' but they are big enough to weather the storm. The Turners business is considerably smaller, so maybe the credit crunch has got them and they no longer have anything like the ?275M which the press keep quoting!

Posted By: Kirrie, Sep 2, 12:12:23