well someone just stole another 3500 pounds off you

http://news.bbc.co.uk/1/hi/business/7250023.stm

how do you feel that you have just had stolen another 3500 pound , how do you feel about the national debt as well .

remember the people in charge of these banks have all had high wages taking risks and now your the person who pays

 

Grrr, stupid arses.. I'dve left the fuckers to flounder or taken all the money owed back from the executives, not the fucking Bank of England.

 

I have an account with Northern Rock so your £3500 is helping to protect my savings. Thanks everyone ...

 

Yeh that's the point. Real people's money's involved here and like it or not executives have limited liability under uk law.

Businesses fail all the time, it's just more damaging on this kind of scale for individuals (such as Darling and his mortgage ) and also for us all on a wider scale as this could have had horrific consequences for uk economy as a whole.

 

Nothing to worry about - there is no risk. What do you think nationalisation means? It means the people own the bank !!!! It is entrusted to the government on your behalf.
as far as the money disappearing about half will go into politicians pockets and the people will get the other half to make up for when Blair and Prescott robbed us blind on land and property deals

 

Northern Rock has now been nationalised. This means, all shareholders accounts have been terminated with immediate affect. Now they are working out compensation. The debt in this country is massive. A part of the problem is that companies don't make it 100% clear. They tempt you like for example Argos. Pay what you can, as long as you pay it. 5% of ten pounds minus piefagurus, diameter for the year. Now Britain's economy is like a joke. Like a lot of other things, no wonder the Yankies are laughing themselves to death at our continuous blunders. Oh won't people vote for a competent party? So as a result of nationalisation of Northern Rock, we have returned to the 1970's. Everyone stick on your Leo Sayer records and put on your Lionel flares and don't shave your sideburns. That way you will blend in to today's Britain.

 

It may have escaped your notice but the British economy is about 20 times stronger than the US economy relatively speaking. The US economy is on the verge of collapsing in a way it hasnt done for about 30 years and the British economy is being micro managed to such a degree that it is relatively buoyant. Theres no huge problem here -

 

I think you'd have to be silly to expect any company to tell you the whole facts and background when you're going into a deal with them.... It's up to you to research things for yourself before deciding to invest etc.

Any investment or loan is a risk... companies are not your friends peeps (quoting Martin off money saving expert!)

 

Don't know about your stats Rah but I agree with your point in general.

There would have been MAJOR problems if the government had just left Northern Rock to die a death. At least this way it may have a chance to turn around over time.

 

Nationalisatation was probably the sensible way to go from the beginning. I can understand why they delayed the decision given the connotations of Labour government and public ownership. But I have to say, it's great to hear the N word in Britain again. Thought I'd never hear it....

 

sodding hell a socialist - hey someone get a camera and take a photo of this guy - he may be the only one left.

 

you're having a flash back moment again Rah, from your time as a hash addict... sit down take it easy ol man... stroke your dog

 

this bail out is more than the entire national health budget for a year , I remember telling you claire that I thought the banks were going to collapse soon because of subprime at big green and also the property market would tank .

basically its much worse than the media are saying and not in the billions in the trillions and not just subprime but with things that are classed as prime , the americans and us have been running our societys on debt and Im not just talking personal debt but national debt , and the whole things falling apart .

again Ive been saying this for years stock up on food , its very possible that not just the dollar will collapse but most currencys , Ive been telling friends this for a year or more and to buy gold although the gold market is rigged and people who listened have done very well .

northern rock is the tip of a iceberg

about northern rock
http://nz.youtube.com/watch?v=wmPH56aScDA


http://nz.youtube.com/watch?v=-EnxVnxGI44


http://nz.youtube.com/watch?v=4kq_vJi56Xw


http://nz.youtube.com/watch?v=wZi7QgkZ5PU

http://nz.youtube.com/watch?v=lJoseh5Dwgs

 

Northern Rock. There is one in Bromley highstret. It looks quite rediculous with customer lining the streets in tents and deckchairs. Asthough they were trying to get into a Led Zepp concert. There is a new saying amongst the banking community. But I am not saying it.

 

absolutley, and i agree with you. But the government find reserves for lots of dodgy stuff, like illegal and immorral wars etc. This is a wider argument.

The point here is that this particular "investment" could have minimised the possible impact the collapse of this bank may have had on individuals, small share holders and the uk economy as whole.

I agree about the problem subprime lending has the capacity to cause in the future... I also agree about the possible impact on the property market... although over a prolonged period I can't see property being a high risk investment.

x

 

Bullshit ! the USA economy is down because of subprime but the British market is not failing on that infact the British housing market is merely having the heat taken out of it to stop such a subprime market building up. The British economy is this time based on a more real understanding of how people react to rate rises and this time what has happened is that the government is cutting interest rates but the banks are reluctant to follow and infact only last month the bank of england cut interest rates and flipped out when it realised the banks werent helping the economy by not following suit.

The fact is that Britains real estate market is now pushed all the way back to realistic levels and the fall out is nowhere near a disaster.
OK so people who were stupid enough to lie about their income get stung but what do you expect. thats not going to collapse the market. infact it just makes prices more realistic and then 3 years down the line it picks up.

The world no longer catches a cold when the USA sneezes because Europe is a better market than the USA right now. The USA is going down because Europe is rising ! The only part of the British economy that fell was house prices but overall thats a good thing because we are getting more realistic about the economy - save to spend is what this bit is about
Oh and make your money because of others misfortune - buy their house cheap coz they cant afford to keep it - dog eat dog - anyone care for a bit of rottweiler ?

 

hahahahahahaha


couple of points if you think of your house as your primary investment your screwed , generally houses are liabilitys not investments , and over the long term you cant say property is a good investment it would depend where and when .
if you bought in a soon to be ghost town that wouldnt be a good investment ,
you can see this quite clearly in places like detroit or the rust belt of the states you have really fancy buildings Im talking mansions that they have been selling off for $1 each sounds a bargin doesnt it but people who have got this bargin have been handing them back in droves .
because you have to pay property taxes , and there is little to no employment or possibility of a upturn and the area has lost millions of people and looks like losing millions more .

if you look at uk property prices compared to income and compare that to the usa people in the uk have a much great disparity between what they earn and the average price of a house ,so we are in more of a classic bubble than the usa , it just hasnt hit us yet

the housing market in the uk will crash its being held up for the moment by migrants , europe isnt on the rise asia is, if you look at the uks debt compared to gdp we are in a terrible state and this is after north sea oil a time you would think we could have payed off our debt .

north sea oil is finishing, oil is peaking worldwide, we no longer have coal and we are running out of gas , we are overspending , and now we have set the precedent of nationalising banks running up national debt even more .




http://nz.youtube.com/watch?v=rstzEx2SkBA


http://nz.youtube.com/watch?v=Iw1EzHqvow0&feature=related


http://nz.youtube.com/watch?v=ghETedCKApc&feature=related

 

Government can't be blamed for the situation of Northern Rock. Let's remember it was the freedom of the market and misguided or dishonest executive decisions that are to blame. It's funny hearing people talk about the idea of nationalising Northern Rock as hitting the final nail into its coffin. The truth is and I hearing it time and again with anger and jealously that savers money couldn't be any safer with government backing.

How many people here are responsible for paying their way? Are you seeing your living costs going through the roof, pay rises frozen? This is the dynamic of private enterprise and the competition it cultivates; bollocks! Inflation is increasing, interest rates are climbing. Wasn't there a theory that capitalism could only survive on profit and the system was about expanding resulting in a point when it can go no further and only collapse, or something like it. There were two collapses in the late eighties and early nineties with devastating affects. Let's remember socialism isn't a dirty word, it used to work here more effectively and justly than we lead our lives now. Cuba? One of the reasons I can see it struggle is the American trade embargoes imposed on it. The irony being that American medical students go there for their education; holding to their principals I see!

 

I said it wasnt billions but trillions

http://www.peakoilstore.com/forum/index.php/topic,12729.0.html

Bank of America Asks Congress for a $739 Billion Bank Bailout other big banks are going to be asking for simular so its in the trillions

 

so what does that mean?

no more dollar?