Goes to prove you cannot sue a bank UK PLC Govt and win

Discussion in 'The Intelligence Cell' started by bitterandtwisted, Feb 13, 2009.

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  1. Bunch of Cnuts PLC

    More reason why i hate banks thankfully I am not a northern rock shareholder but this outrageous. These own the f'acking bank....

    My bank Lloyds are big bunch of greedy cnuts also - thoughts please?
     
  2. They are saying that ISA's are the safest way. Shop around. I would just avoid the big four just out princeiple though and you can get better deals.
     
  3. While I have sympathy for the shareholders (particularly the retail shareholders), when investing in equities you should know that there is the chance that shares can go to zero worth. Unfortunately, a lot of pensioners have been caught up in this fiasco.

    There's bugger all you can do with those shares, Mr_D. You will just have to wait in the hope that someday Northern Rock becomes a viable business once again, and that HMG will de-nationalise the bank. Where to put a few hundred quid. Premium bonds comes to mind, though they provide no interest. Have you thought about other types of bonds?

    There is always gold, but I think from looking at the technical charts and having read some of the fundamental data that gold could retrace from the mid 900s down to mid-high 800s soon. I certainly wouldn't buy any gold at this specific moment. Long term, what happens with gold is anyone's guess. Caveat emptor.
     
  4. I don't think that NR shares are available to sell or buy. You will just have to wait it out, with the chance of never being able to redeem your investment.

    I think that the chances of Virgin or anyone else buying NR are slim. It essence, it is a nationalised bank, owned by the taxpayer and controlled by a one eyed monster. You will just have to sit it out and hope.
     
  5. Sorry but the shares would have been worthless if the government (taxpayer) hadn't bailed bank out.

    I'm sure the shareholders weren't offering to split their profits with any old taxpayer when share value was climbing.

    The deal to bail out NR was bad enough to start with, without handing over even more compo to the shareholders. I'm sorry that some small investors will lose out, but that is the risk you take with shares.
     
  6. I always switch off when I get to the sentence "infringed human rights".
     
  7. Bouillabaisse

    Bouillabaisse LE Book Reviewer

    One of the biggest plaintiffs in this case was a hedge fund who bought £50 million worth of shares in the bank at a low price when it was going down the pan on the assumption that the govt would bail the bank out, the share price would rise and they would make a tidy profit. Sorry, but I have feck all sympathy with the greedy bast'rds. They took a risk, lost and then wanted the govt (me, the taxpayer) to give them their stake back. Try that at the bookies and see where it gets you.
     
  8. I have to concur with the "tough luck" school of thought.

    If a plc goes down the pan the shareholders loose the lot- ENDEX. The nationalisation of NR was to safeguard depositors, borrowers and the financial system as a whole. It did not do so to rescue the shareholders. If that is the case, can I have a large lump sum to cover the reduced value of my equity based endowments? No? Didn’t think so.