Northern rock

well if you live in the north east and your money is safe then it's in your own self interest to support a north east bank. better the profits stay here than fly down south

Most of these people don't even have that much in there bank.

There were huge queues at the cash machines lmfao.

most of the small shareholders from the original float DO live in the north east since most of the branches were here. But it is a northern bank in the sense that the HQ is here and a lot of the staff, and the foundation was set up to help good causes here.

And it invests millions into northern charities. even if the shareholders are elsewhere, it still does a lot for the north east

I see the twat who is responsible for this fuck up trousers £1.4 million pounds even if he gets the sack. Unfuckingbeleivable.
And the director responsible for 'risk assesment' was fired from his previous job at nat west for management incompetence.
If you want a scapegoat Brid I think you should be looking at the trough these fuckers swill out of rather than the goverment.

sparticus,

did you sell again after you made your money?

see they have dropped up to 16% again. i still dont think they will be able to survive.

Shares have time an all time low!

You'd be surprised, the amount of cheques that have been paid in at our branches alone that have been over 100k is quite surprising, and we have had lots of over 1million and this is only coming in to the few branches of our bank up here.

Obviously there are much more with less than this but I was shocked at how many there was over 100k

You used to get the odd person ringing up barclays who had loads in there account but most people have feck all in there savings.

well you're wrrong again...... northern rock was a mutual society and was owned by it's members. when it de-mutualised to avoid being accused of cynical profiteering from a socially responsible building society it set up the Northern Rock Foundation with a big pot of money and 5% of all future profits covenanted to it. It's run by an independent trust to ' tackle disadvantage and to improve quality of life in North East England'
So far it has dished out £135000000.
so there is indeed ......some whippet owning, salt of the earth, self depricating geordie on the board insisting that profits have to be spent on worthy northern causes.
if you're proud to be a geordie perhaps you should invest some money in the rock

Did someone reply to this? Or do I need to?

I watch Your World with Neil Cavuto on Fox & they have been talking about the American housing market collapse for months now. This was down to "rising defaults, falling home prices and investor resistance to buying home loans they now consider too risky." Companies have fled the US mortgage market & many have went bankrupt. With companies going bankrupt, the companies who loaned them the money to lend to home buyers are not getting there cash back. Meaning they are know very wary of loaning dosh out.

The only part of the American house market booming is the housing auctions for reposed houses.


Do you agree that the above is reality & has happened?

At the moment not one UK mortgage lender has went bankrupt. Looking at a old article in The Telegraph:

"Panic has begun to sweep the sub-prime mortgage sector in the United States after the bankruptcy of 22 lenders over the past two months, setting off mass liquidation of housing loans packaged as securities." http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/02/24/cnusecon24.xml

The fundemental difference between the UK & USA is that our Government will prop up or get involved. In America they belive the market will sort its self out & the Fed did not get involved helping any companies out.

There is not mortgage problem atm in UK & maybe because of this crisis which will result in tighter lending it may prevent it happening on huge scale. Lets hope it does