Wall Street opens in half an hour or so...

Ditto. Sit on and warm your hands and don't let them get twitchy near a telephone.

There's still serious upheaval in the US ... the loan has to be ratified (done deal .... maybe?) and until such time, their market's going to flip-flop at the sharks' whims ... buggering up any gains or stability elsewhere globally.

A real long term punt (only if the fingers are uncontrolably twitchy) is Morgan Stanley.
If their $44 billion merger with Wachovia goes through they should look solid future investment.

So if I bought £5 worth,

How long would I have to wait to get a night out on the tiles out of it Merls?

Use the fiver to buy an out of the money call option expiring end Feb.

holcs wrote:So if I bought £5 worth,

How long would I have to wait to get a night out on the tiles out of it Merls?

By the time you're 3rd change bowler for the Sunday 3's Chas ....

But then, t'would be a serious night out .... plus curry and popodoms!

Will they allow me to punt two pints of Guiness on the old stock exchanges?

That way hopefully i could cash in for 20 pints. That sounds better.


JGK - what the heck is one of those?

Merls - I can't wait until 2023 for it to be worthwhile!!

holcs wrote:

Merls - I can't wait until 2023 for it to be worthwhile!!

In which case keep your powder dry till this Saturday then, and wager a small each way on a
decent prospect called "Whenever" ... at either Ascot or Haydock ... venue not declared yet.

Now thats the type of financials I can handle!

something for the youngsters who may not have heard this ... it's topical

holcs wrote:Now thats the type of financials I can handle!

Chas,

"WHENEVER" runs today, Saturday - 5.25 Ascot over 2 miles.

Don't go silly as the expected soft going (which he prefers) has dried out to "good".
Dangers - 'Four Miracles' and 'Greenwich Village'.

Looks like Bradford & Bingley are the next to fall.

And poor Fortis Bank also looks like it has been savaged by the shorters.

This could be a good spectator sport if it wasn't so serious.

JGK wrote:Looks like Bradford & Bingley are the next to fall.

'Fall' in a certain sense though in the event of no takeover they would be nationalised much like Northern Rock

JKLever wrote:

JGK wrote:Looks like Bradford & Bingley are the next to fall.

'Fall' in a certain sense though in the event of no takeover they would be nationalised much like Northern Rock

True but either way it isn't really going to exist in its current form.

As bad as this shit gets Wall St can't actually collapse right. Aren't there safeguards built in to allow everyone a day off and take a deep breather?

UK to nationalise Bradford & Bingley


September 28, 2008 - 2:38PM

Britain's ailing Bradford & Bingley building society is about to be nationalised, media reports said, citing sources within London's financial district.

The decision could be announced Sunday evening or Monday morning by the Financial Services Authority (FSA) and the Finance Ministry, the British broadcaster BBC reported.

In order to avert a possible collapse, the country's eighth largest mortgage lender could be merged with Northern Rock, which was itself nationalized earlier in the year when it failed, the Daily Telegraph and Daily Mail reported.

Under one arrangement under discussion, the state would take over obligations of 63 billion euros ($A110.57 billion) including risk- ridden mortgages and loans of 52 billion euros ($A91.27 billion), BBC reported. Buyers were being sought for other parts of the bank.

On a visit to the United States, British Prime Minister Gordon Brown said the reports were speculation and he would not comment on them.

Media reports earlier in the week had said that the FSA was seeking a buyer for Bradford & Bingley, the latest victim of the global financial crisis.

The bank posted losses of STG26.7 million ($A58.82 million)in the first six months of 2008.

Britain's six largest banks hold about a 30 per cent stake in Bradford & Bingley between them, Bloomberg financial news agency reported.

© 2008 AP

JKLever wrote:

JGK wrote:Looks like Bradford & Bingley are the next to fall.

'Fall' in a certain sense though in the event of no takeover they would be nationalised much like Northern Rock

Prime example of a once sensible, conservative and focused ex. Building Society becoming too farking greedy.
Lumping into buy-to-let mortgages and self-certification loans (where proof of means or salary to repay the loan is waived),
was nothing short of suicidal, given the global economy.
So once the disasterous sub-prime domino-drop took effect, B and B were lame ducks.

Nationalisation it is then ... ie., taxpayers (our) money to bale the incompetent greedy f**kers out.

And to boot, those other geedy feckers that got lucky get to pick up the best bits for fark all, whilst we the tax payer get stuck with the Toxic loans and mortgages!

£ 150 billion worth of unuseable, unsaleable and worthless dross.

Brown and Darling's legacy to us taxpayers before they get booted out of office.

All Geckos are qunts.

Merlin wrote:£ 150 billion worth of unuseable, unsaleable and worthless dross.

Brown and Darling's legacy to us taxpayers before they get booted out of office.

Aye. Just a joyous situation for us to be in. I think the defaults might bail us out a bit, but in a housing slump, that doesn't help either!

To be honest they didn't really have much choice, but its born IMO, from irresponsible and slack legislation allowing these greedy buggers to go full tilt....

Also seems to mirror Browns own economics.

Worrying thing in the Telegraph is that people in the UK still believe Brown and Darling to be best set to look after the economy!

More carnage - most markets down 3%+ tonight.

If the global financial system can make it to Christmas things might rebound.

Oh dear God. We are so farked.

I hope this process cleans out all the farkin gung-ho fark-knuckle wannabe Wall Street Kings and Wankers who think they and their financial machismo is bulletproof. And I hope all those farkers lost their farkin jobs and their houses.

Qunts.

skully wrote:I hope this process cleans out all the farkin gung-ho fark-knuckle wannabe Wall Street Kings and Wankers who think they and their financial machismo is bulletproof. And I hope all those farkers lost their farkin jobs and their houses.

Qunts.

I was speaking to a friend in Goldman a few days ago. He makes about 120-150 K in base salary and $200-400K in bonus. He's been there 3 years. People at the 7-8 year level, up to $800k in bonuses.

His job is still safe- so far.

Qunt. Qunts.