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So, now Northern Rock have called on the Bank of England for cash...

(10 Posts)
WideWebWitch Sat 15-Sep-07 09:16:25

Northern Rocked, City shocked

smallwhitecat Sat 15-Sep-07 09:24:52

Message withdrawn

WideWebWitch Sat 15-Sep-07 09:28:27

Actually, I think Joe Public probably IS shocked. I'm not, particularly (I work in finance)

LIZS Sat 15-Sep-07 09:29:32

agree , if truth be known there have been rumblings in the financial world for a little while. Simply due to their reliance on market funding to bridge the shortfall between deposits and lending.

noddyholder Sat 15-Sep-07 09:30:09

The bank of england have now warned the rest of teh banks that this is a risky way to operate and they won't be bailing them all out.There is probably no danger as you say BUT if there shares continue to plummet like they did yesterday they will be bought out for sure and then who knows?Interesting times in the economy but think we are in for a bit of a shock after years of spending and borrowing!

smallwhitecat Sat 15-Sep-07 09:33:15

Message withdrawn

noddyholder Sat 15-Sep-07 09:42:20

Good luck selling there is as everyone says always a market for good houses its just the prices that are murderous atm!

noddyholder Sat 15-Sep-07 09:44:49

Do you really think underlying economics are good?I think the news is reporting general shakiness all round I think we just need to be careful not to over stretch just to have a property

sunshineandshowers Sun 16-Sep-07 09:12:19

The 1.3 trillion debt mountain we have certainly does not indicate a good economy.

WideWebWitch Sun 16-Sep-07 09:23:39

But UK debt to wealth ratio is ok. Mind you quite a bit of that wealth is houses, doh!

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