Financial slow motion crashes....

Discussion in 'Finance, Property, Law' started by Litotes, Sep 8, 2008.

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  1. Mullling over the Telegraph's website and ARRSE, I am surprised that no-one has commented on the nationalisation of Fannie Mae and Freddie Mac by the American Government (that only sold them off some 40 years ago).

    Fannie Mae and Freddie Mac

    Subsequent to that, the Nationwide Bldg Soc has taken over two smaller building societies (the Derbyshire and the Cheshire) after both revealed horrendous losses.

    Nationwide takes over....

    and a Chief Executive (Nationwide but don't quote me as I can't find the article) has announced that a 25% fall in house prices is to be expected in the next 2 years!

    Or do we only have to worry until Wednesday?

  2. in_the_cheapseats

    in_the_cheapseats LE Moderator

    Here's your Nationwise quote
    25% house price fall

    I was looking towards watching UK equities jump up today until the LSE computer went down. It will be interesting to see what happens tomorrow when trading can get back to normal.
  3. It isn't clear yet that the LSE has fixed the fault!

  4. Litotes,

    CEO of Nationwide was on BBC News making the 25% quote earlier this evening.

    On the FM & FM US Treasury bond grab, not that surprising (IMO) given the impact on a) the US domestic economy and b) the impact on the Presidential election, if the number of new-age homeless in the US continues to increase, at the pace it has done over recent months.

    Nationwide's take-on of Derbyshire and Cheshire BCs is rational in a tight market for Nationwide. Traditionally, both have their mortgage books (in the main) in fairly well defined geographies - in all liklihood, this footprint may be worth more to Nationwide than the current value of the books. Those Geographies may or may not be less "hit" by the current downturn, fair to say, Nationwide are in it, for the long game.
  5. in_the_cheapseats

    in_the_cheapseats LE Moderator

    The markets came back online in the last hour of the day. Have they had to be taken down again?

    It also makes me think about the fault itself. The timing is excretable. LSE has been under enough pressure from hostiles in the last wee while; losing its "name" for fouling up will make it easier for others to say "we can do better".

    An unfortunate fault or a deliberate act?

    What odds on another hostile bid shortly?
  6. I have 2/6d now and can rustle up some more at the end of the month (maybe). Do you think we could manage a hostile bid between us?

    Blue-sophist was recently looking for a sure-fire winner; maybe we can persuade him to come along for the ride?

  7. I think the 2/6d would be better invested in black powder, silk wadding and a sharpes rifle ready for hunting season as the monetary pinch gather a pace!
  8. For some strange reason, I looked at the signature block, noticed it was moving and then mis-read your message along the lines of:

    and I couldn't work out why black silk stockings and a hunting rifle would go together.

    I need a cup of tea!