Halifax - get your dough out !!!!
17-09-2008, 04:00 PM
#41
i have cash in nationwide,they told me that if they go belly up then i'd only get up to £35k payed out....so just in case of all that seems to be going on at the mo,i decided that i would transfer some money into another bldg society so i have no chance of losing out on my savings to which i was going to use halifax.
but if you´re really unsure, stick it in the Northern Rock, as Porkie says
17-09-2008, 04:13 PM
#42
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LMFAO! Superb!
AS has been said, can't really see having money in HBOS as being an issue.. Fairly sure I've read they're the biggest mortgage lenders in this country? As Lee said, NR is the safest place you could ever hope to have cash at the moment, and yet people (such as my girlfreinds folks) seem to know better, and have recently closed down their NR accounts....
Guess the 4 years I did at uni to at least allow me to have a (semi) informed say on such things counts for nothing eh!
17-09-2008, 04:15 PM
#43
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I have an HBOS current account and savings account. The current account is in the red at the moment, what happens in cases like that if they go under, do you get debt collectors working on behalf of the administrators chasing you for money ? My savings has £1 at the moment so that doesn't matter 
17-09-2008, 05:15 PM
#45
20K+ Super Poster.
17-09-2008, 05:26 PM
#46
Testing the future
or national savings 
but their rates are crap.
as long as you spread your savings between institutions so not more than £35k is with one, it should be covered in theory. but what would happen in reality is quite frightening
but their rates are crap.as long as you spread your savings between institutions so not more than £35k is with one, it should be covered in theory. but what would happen in reality is quite frightening
17-09-2008, 05:41 PM
#47
all it takes is a small % of people to take there money out of halifax to go bump. im not scare mongering but banks are businesses and need cash flow.
17-09-2008, 07:57 PM
#49
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I've got a mate who told me today, he always keeps a minimum of 3K in a safe locked in his house, just because he thinks banks and building societies are bunch of to55ers and doesn't trust any of them.
17-09-2008, 08:21 PM
#52
14000+ post superhero
17-09-2008, 10:44 PM
#54
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17-09-2008, 10:47 PM
#55
PassionFord Post Whore!!
There was a little killing to be made this morning when the shares dropped to 0.88p and then when the merger with Lloyds was announced went straight up to £2.20
Wish I'd had a bit of that action
Wish I'd had a bit of that action
17-09-2008, 10:53 PM
#56
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where does it say in your loan agreement 'if we go bang you dont have to pay us' thats if you even read your paperwork
youll still be chased for it as has already been said
lloyds tsb have it in the bag anyway and the govt are even making way for it to go down easy
im too lazy to quote the guy that started this thread but as has also been said dont be an ass
moral panic is not what the country needs right now, media hype is doing as much damage as it is
quick take your 300 quid out of the bank like every other twat, do you honestly think your going to be done outta 300 quid, theres guys in there with millions in those banks...
youll still be chased for it as has already been said
lloyds tsb have it in the bag anyway and the govt are even making way for it to go down easy
im too lazy to quote the guy that started this thread but as has also been said dont be an ass
moral panic is not what the country needs right now, media hype is doing as much damage as it is
quick take your 300 quid out of the bank like every other twat, do you honestly think your going to be done outta 300 quid, theres guys in there with millions in those banks...
17-09-2008, 11:02 PM
#58
PassionFord Post Whore!!
17-09-2008, 11:10 PM
#59
Internet addresses corresponding to recent bank mergers are already being hoarded and sold online.
http://news.bbc.co.uk/1/hi/technology/7621647.stm
Lloyds TSB seals merger with HBOS
http://news.bbc.co.uk/1/hi/business/7622180.stm
http://news.bbc.co.uk/1/hi/technology/7621647.stm
Lloyds TSB seals merger with HBOS
http://news.bbc.co.uk/1/hi/business/7622180.stm
17-09-2008, 11:13 PM
#60
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....saying that...under the floor boards has always been a pretty safe place to deposit your treasure.....that's if you `don't come from"up" north
17-09-2008, 11:33 PM
#62
PassionFord Post Whore!!
Internet addresses corresponding to recent bank mergers are already being hoarded and sold online.
http://news.bbc.co.uk/1/hi/technology/7621647.stm
Lloyds TSB seals merger with HBOS
http://news.bbc.co.uk/1/hi/business/7622180.stm
http://news.bbc.co.uk/1/hi/technology/7621647.stm
Lloyds TSB seals merger with HBOS
http://news.bbc.co.uk/1/hi/business/7622180.stm
What happened with abbey a few years ago? Granted that wont happen but it still isnt there yet.
17-09-2008, 11:56 PM
#63
I got a letter 3 days ago from the Halifax asking about my £250 overdraft i have with them and have had for years but now bank with RBS so no money actually going in monthly so they want their money back.
Worse thing to do is a Northern Rock situation again.
Worse thing to do is a Northern Rock situation again.
18-09-2008, 12:44 AM
#64
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Offer em a £1 a month.
18-09-2008, 07:36 PM
#66
ELASTIC BAND
18-09-2008, 07:50 PM
#67
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18-09-2008, 08:06 PM
#68
Advanced PassionFord User
So were HBOS ever in any financial trouble to cause this take over in the first place, or was it just some traders on the stock markets taking the p!ss trying to make money out of causing a company to go under in the current climate?
Couldn't a dodgy trader start a scare mungering rumour that a company is in trouble so everyone starts selling, then when the shares go down, he can buy and then sell when they go back up and make a killing? Or isn't it that simple?
That Barclays/Leemans deal looked dodgy to me. Barclays pull out because the price is too high or whatever. Leemans collapse due to Barclays pulling out. So did Barclays get what they bought a couple of days later alot cheaper due to this? If so, result for Barclays- cause someone to go bankrupt and then buy them cheap.
Couldn't a dodgy trader start a scare mungering rumour that a company is in trouble so everyone starts selling, then when the shares go down, he can buy and then sell when they go back up and make a killing? Or isn't it that simple?
That Barclays/Leemans deal looked dodgy to me. Barclays pull out because the price is too high or whatever. Leemans collapse due to Barclays pulling out. So did Barclays get what they bought a couple of days later alot cheaper due to this? If so, result for Barclays- cause someone to go bankrupt and then buy them cheap.
18-09-2008, 09:07 PM
#69
PassionFord Post Whore!!
So were HBOS ever in any financial trouble to cause this take over in the first place, or was it just some traders on the stock markets taking the p!ss trying to make money out of causing a company to go under in the current climate?
Couldn't a dodgy trader start a scare mungering rumour that a company is in trouble so everyone starts selling, then when the shares go down, he can buy and then sell when they go back up and make a killing? Or isn't it that simple?
That Barclays/Leemans deal looked dodgy to me. Barclays pull out because the price is too high or whatever. Leemans collapse due to Barclays pulling out. So did Barclays get what they bought a couple of days later alot cheaper due to this? If so, result for Barclays- cause someone to go bankrupt and then buy them cheap.
Couldn't a dodgy trader start a scare mungering rumour that a company is in trouble so everyone starts selling, then when the shares go down, he can buy and then sell when they go back up and make a killing? Or isn't it that simple?
That Barclays/Leemans deal looked dodgy to me. Barclays pull out because the price is too high or whatever. Leemans collapse due to Barclays pulling out. So did Barclays get what they bought a couple of days later alot cheaper due to this? If so, result for Barclays- cause someone to go bankrupt and then buy them cheap.
19-09-2008, 09:29 AM
#70
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19-09-2008, 09:42 AM
#71
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That Barclays/Leemans deal looked dodgy to me. Barclays pull out because the price is too high or whatever. Leemans collapse due to Barclays pulling out. So did Barclays get what they bought a couple of days later alot cheaper due to this?
Tempt them to the brink of collapse, yank the carpet and then come back when they're dead to cherry pick the best bits.
It seems you have to be both ruthless and amoral to play the markets successfully.
19-09-2008, 05:53 PM
#76
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Thing is,its easy to say people coming out with outburst cause these banks to go under,and that your staying where you are.But if that is your life savings, you are gonna panic. What would you feel like if you stayed put,and they still folded? Because people act on what they see on the t.v. That is the main blame for the state of this country.
Its easy to say stay put,but in reality that never happens.
Everyone is in a worse state now even compared to the N R situation.....less work out there etc,therefore, there would be even more panic on something like this.
Its a catch 22.
But im safe,cos i havent got any savings,or any money
19-09-2008, 10:12 PM
#77
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Dude ppl like you cause mass panic, are you a financial adviser?????? no so check your shit before saying stuff like that, I've just spent 2 hours on the net trying to find out about all of this and in my opinion the only safe way is to take your money out of the bank and stash it in a box and bury it 10 feet under concrete, in this day and age money isn't safe whatever you do with it but I do agree and have so far read that it's best to spread your money between companies, Ive got a bit put away and I'll be diversifying it on Monday first thing.
19-09-2008, 11:22 PM
#79
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So, is this a merger or a takeover?
Is my Bank of Scotland account going to become a Lloyds TSB account? Will anything change as regards to my terms and conditions?
I've got feck all saved up and no debt with them so not bothered about those kind of worries. Cheers!!
Is my Bank of Scotland account going to become a Lloyds TSB account? Will anything change as regards to my terms and conditions?
I've got feck all saved up and no debt with them so not bothered about those kind of worries. Cheers!!
20-09-2008, 12:20 AM
#80
PassionFord Post Whore!!
So far as I can make out, we had an old-established bank (BofS), well run and doing quite nicely, and we had a new bank (Halifax), one of the new breed of ex Building Societies and keen to get to be more bankish than the banks.
The new guys did a deal and bought up the old guys then used this extraordinary business model where they would lend loads of people loads of money for long terms (mortgages), but instead of using their depositors funds to finance these, they went to the money markets and borrowed the cash from other banks over shortish periods, so were exposed to the risk of movements upwards in rates, but with little reward if rates went down, because then they would have to charge less to new borrowers coming in or they wouldn't win the new business.
It shouldn't take a room full of geniuses (genii?) to see the flaws in the plan, and in fact it was exposed earlier this year during the rights issue, but instead of doing something about it the Government, regulators and the bankers sat on their arses and did nothing.
Now look where we are. The oldest Scottish bank, the first to issue paper money, has gone, and the HBOS clowns who enriched themselves at ordinary shareholders expense are busy working out who will do what in the new organisation and how much bonus they will get.
Personally, I'd pack the lot of them down to the job centre tomorrow.
Meantime, I suppose we should be grateful that Lloyds TSB were able to step in, but the blame for this lies in Downing Street, bank boardrooms, and dealing room floors all over the world.
One final point: I am not allowed to sell a car that I don't own, so why was short selling allowed? The experience of the 1930s proved it was bad for the economy then, and it still is today.
The new guys did a deal and bought up the old guys then used this extraordinary business model where they would lend loads of people loads of money for long terms (mortgages), but instead of using their depositors funds to finance these, they went to the money markets and borrowed the cash from other banks over shortish periods, so were exposed to the risk of movements upwards in rates, but with little reward if rates went down, because then they would have to charge less to new borrowers coming in or they wouldn't win the new business.
It shouldn't take a room full of geniuses (genii?) to see the flaws in the plan, and in fact it was exposed earlier this year during the rights issue, but instead of doing something about it the Government, regulators and the bankers sat on their arses and did nothing.
Now look where we are. The oldest Scottish bank, the first to issue paper money, has gone, and the HBOS clowns who enriched themselves at ordinary shareholders expense are busy working out who will do what in the new organisation and how much bonus they will get.
Personally, I'd pack the lot of them down to the job centre tomorrow.
Meantime, I suppose we should be grateful that Lloyds TSB were able to step in, but the blame for this lies in Downing Street, bank boardrooms, and dealing room floors all over the world.
One final point: I am not allowed to sell a car that I don't own, so why was short selling allowed? The experience of the 1930s proved it was bad for the economy then, and it still is today.