"“We have lent a huge amount of money to the U.S. Of course we are concerned about the safety of our assets. To be honest, I am definitely a little worried.” "

Chinese premier Wen Jiabao 12th March 2009

""We have a financial system that is run by private shareholders, managed by private institutions, and we'd like to do our best to preserve that system."

Timothy Geithner US Secretary of the Treasury, previously President of the Federal Reserve Bank of New York.1/3/2009

Tuesday, July 08, 2008

Crash & Burn - was Bradford & Bingley

B & B share price at 9.00 has fallen a further 20% and is now 34.00 p down 8p on opening...

There has probably never been a worse timed campaign .....

UPDATE : News reaches oop North that a white knight on a charger is being sought but those that have taken a look at the Aire Valley master trust have discovered better ways of handling their shrivelling treasury funds.

Also with Gordon in the land of the Rising Chrysanthemum nobody is around who will actually make any decisions. The last thing Magical Mervyn wants is another ex Bulding Society in the sick bay .. and with A & L in a holding pattern ....

UPDATE 11.30 Tuesday Skipton Building Society yesterday confirmed that its chief executive John Goodfellow had considered buying the bank, but quickly walked away.

The Daily Mail say HBOS, Abbey, Barclays, Lloyds TSB, Royal Bank of Scotland and HSBC, have agreed to be sub underwriters to UBS and Citigroup but we will believe that when we see it.

If this is the BOE new Stability Pact at work , it doesn't work very well.

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(C) Very Seriously Disorganised Criminals 2002/3/4/5/6/7/8/9 - copy anything you wish