Another Bank Bail Out - Dunfermline Building Society

[Sheepy]

Pugsey said:

Sheepy said:

Did anyone else see the chief exec of DBS on Channel-4 newslast night? He basically called Darling a liar over the eye-browed one's earlier claims of £100M+ needed. In his opinion the business needs about £25M to keep it going. As for Darling's claims about "American Toxic Debt", he stated that his company had bought the UK mortgage books of a US buy-to-let company, and that they held no overseas debts. I think they have been stuffed more by the banks not lending to other banks and building socs (which the billions from Brown and Darling was meant to solve).

More spin and bull from the treasury?

He's the Chief exec of a company that has, at very best, just about bumbled along even through the good years and is now going down the tubes. Not really in a position to moan when no-one will bail him out is he?

Doesn't mean the politicians need to over-exagerate the situation to try and make themselves look less hopless.

[s3fella]

Phugoid said:

Fittster said:

Arrgghhhh!!!!

Taxpayers now looking at a 1.6bn cost.

"The Government has been forced to pay out around £1.6 billion for a porfolio including toxic loans and questionable mortgages as part of the rescue of Dunfermline Building Society by Nationwide Building Society today"

http://business.timesonline.co.uk/tol/business/ind...

Why can't Scots run banks (This lot, RBS and HBOS)? I thought they were a nation who knew how to be careful with money.

It's a global economic downturn affecting hundreds of institutions worldwide, I don't think being Scottish has anything to do with it.

You're deluded fella. If these did not have Scotland associated with the name, not all of them would have been "saved". Political points at the cost of the taxpayer.

[limpsfield]

Phugoid said:

Fittster said:

Arrgghhhh!!!!

Taxpayers now looking at a 1.6bn cost.

"The Government has been forced to pay out around £1.6 billion for a porfolio including toxic loans and questionable mortgages as part of the rescue of Dunfermline Building Society by Nationwide Building Society today"

http://business.timesonline.co.uk/tol/business/ind...

Why can't Scots run banks (This lot, RBS and HBOS)? I thought they were a nation who knew how to be careful with money.

It's a global economic downturn affecting hundreds of institutions worldwide, I don't think being Scottish has anything to do with it.

Dunfermline BS
Royal bank of Scotland
Halifax Bank of Scotland
Bradford & Bingley

There's a trend here. The north of Watford one. They should all go back to bartering

[NoelWatson]

http://www.reuters.com/article/rbssFinancialServic...

"Bradford & Bingley bad loan charge soars"

[Pugsey]

Sheepy said:

Pugsey said:

Sheepy said:

Did anyone else see the chief exec of DBS on Channel-4 newslast night? He basically called Darling a liar over the eye-browed one's earlier claims of £100M+ needed. In his opinion the business needs about £25M to keep it going. As for Darling's claims about "American Toxic Debt", he stated that his company had bought the UK mortgage books of a US buy-to-let company, and that they held no overseas debts. I think they have been stuffed more by the banks not lending to other banks and building socs (which the billions from Brown and Darling was meant to solve).

More spin and bull from the treasury?

He's the Chief exec of a company that has, at very best, just about bumbled along even through the good years and is now going down the tubes. Not really in a position to moan when no-one will bail him out is he?

Doesn't mean the politicians need to over-exagerate the situation to try and make themselves look less hopless.

Oh I agree wholeheartedly. BUT, having listened to his whole interview I just thought he was in a VERY poor postion to be criticising anyone else's actions/comments. People in glass houses and all that.

[Fittster]

limpsfield said:

Phugoid said:

Fittster said:

Arrgghhhh!!!!

Taxpayers now looking at a 1.6bn cost.

"The Government has been forced to pay out around £1.6 billion for a porfolio including toxic loans and questionable mortgages as part of the rescue of Dunfermline Building Society by Nationwide Building Society today"

http://business.timesonline.co.uk/tol/business/ind...

Why can't Scots run banks (This lot, RBS and HBOS)? I thought they were a nation who knew how to be careful with money.

It's a global economic downturn affecting hundreds of institutions worldwide, I don't think being Scottish has anything to do with it.

Dunfermline BS
Royal bank of Scotland
Halifax Bank of Scotland
Bradford & Bingley

There's a trend here. The north of Watford one. They should all go back to bartering

Northern Rock - Based in the North East.

Banks trading without taxpayers support:

HSBC - Based in London and includes the old Midlands Bank.
Barclays - Based in London.
Nationwide - Swindon.

Give a northern an amount of money larger the a giro and it all goes horribly wrong. The're just not used to large sums (more than £100.00).

[limpsfield]

Fittster said:

limpsfield said:

Phugoid said:

Fittster said:

Arrgghhhh!!!!

Taxpayers now looking at a 1.6bn cost.

"The Government has been forced to pay out around £1.6 billion for a porfolio including toxic loans and questionable mortgages as part of the rescue of Dunfermline Building Society by Nationwide Building Society today"

http://business.timesonline.co.uk/tol/business/ind...

Why can't Scots run banks (This lot, RBS and HBOS)? I thought they were a nation who knew how to be careful with money.

It's a global economic downturn affecting hundreds of institutions worldwide, I don't think being Scottish has anything to do with it.

Dunfermline BS
Royal bank of Scotland
Halifax Bank of Scotland
Bradford & Bingley

There's a trend here. The north of Watford one. They should all go back to bartering

Northern Rock - Based in the North East.

Banks trading without taxpayers support:

HSBC - Based in London and includes the old Midlands Bank.
Barclays - Based in London.
Nationwide - Swindon.

Give a northern an amount of money larger the a giro and it all goes horribly wrong. The're just not used to large sums (more than £100.00).

Agreed - hopefully after all of this the jocks will go back to what they know best.

Tennents super and crack cocaine.

[CzechItOut]

[quote]The Government has been forced to pay out around £1.6 billion for a portfolio including toxic loans and questionable mortgages as part of the rescue of Dunfermline Building Society by Nationwide Building Society today, The Times has learnt.
[/quote]

So why doesn't the Government give out these individual loans to Joe Public? The loan holder (me) can arrange a payment schedule, even if it's just a few quid a week. I will then obviously pay 40% tax on the income and it costs the Government (well, us) nothing to administer. You never know, I might actually invest some of my own money into the property to make it more attractive - all of this putting money back into the economy.