[tb]

Re: Virgin Money acquires Northern Rock : Thu Nov 17, 2011 1:16 pm  

Of course, as eni fule (ie Robinson) kno, it's just ignorant lefties with an axe to grind against "Toooooorreeehs" who can't see this as A Good Deal.

The government has sold its stake in Northern Rock "for a song," Tory MP Mark Field, who represents the City of London

oh …

Re: Virgin Money acquires Northern Rock : Thu Nov 17, 2011 1:37 pm  

Anakin Skywalker wrote:

We are getting back less than we paid and it doesn't include the part with the worst risk.
It's pretty obvious unless you are a blind eyed Tory boy (Oh wait).

is there any banking business that is worth the same now as it was worth a few years ago?

Re: Virgin Money acquires Northern Rock : Thu Nov 17, 2011 1:40 pm  

EHW wrote:

is there any banking business that is worth the same now as it was worth a few years ago?

Probably not, which makes it a ridiculous time to sell when the price you can get is going to be so low.

Re: Virgin Money acquires Northern Rock : Thu Nov 17, 2011 1:43 pm  

Andy Gilder wrote:

Probably not, which makes it a ridiculous time to sell when the price you can get is going to be so low.

The immediate future looks bad for banks, so you could argue it's a good, albeit desperate, time to sell.

The banks themselves don't have much confidence - announced job lossses - Llotds 14,000, Bank of America 30,000, HSBC 30,000, etc, etc

Re: Virgin Money acquires Northern Rock : Thu Nov 17, 2011 1:48 pm  

Dally wrote:

The immediate future looks bad for banks, so you could argue it's a good, albeit desperate, time to sell.

The banks themselves don't have much confidence - announced job lossses - Llotds 14,000, Bank of America 30,000, HSBC 30,000, etc, etc

The good time to sell is one where you're going to get the best price.

Under no set of criteria is this the right time to be selling off a bank, unless you desperately need the cash to meet some economic forecasts.

Re: Virgin Money acquires Northern Rock : Thu Nov 17, 2011 1:51 pm  

Andy Gilder wrote:

The good time to sell is one where you're going to get the best price.

Under no set of criteria is this the right time to be selling off a bank, unless you desperately need the cash to meet some economic forecasts.

Well cash IS desparately needed and getting a better price could take more than a decade.

Re: Virgin Money acquires Northern Rock : Thu Nov 17, 2011 1:54 pm  

tb wrote: Satire gets it right again: http://www.thedailymash.co.uk/news/busi ... ne-to-use-£747m-from-northern-rock-sale-to-bail-out-new-owners-201111174558 "Julian Cook, chief economist at Donnelly McPartlin said: "I know that having George Osborne in charge of the money makes for great conversation, but eventually we are going to have to take this seriously."

tb wrote: Satire gets it right again: http://www.thedailymash.co.uk/news/busi ... ne-to-use-£747m-from-northern-rock-sale-to-bail-out-new-owners-201111174558 "Julian Cook, chief economist at Donnelly McPartlin said: "I know that having George Osborne in charge of the money makes for great conversation, but eventually we are going to have to take this seriously."

Re: Virgin Money acquires Northern Rock : Thu Nov 17, 2011 1:55 pm  

Andy Gilder wrote:

Probably not, which makes it a ridiculous time to sell when the price you can get is going to be so low.

Mmm a flogging off gold reserves type situation.

Re: Virgin Money acquires Northern Rock : Thu Nov 17, 2011 3:13 pm  

EHW wrote:

is there any banking business that is worth the same now as it was worth a few years ago?

So then why sell now?
Poop has hit the fan perhaps?

Re: Virgin Money acquires Northern Rock : Thu Nov 17, 2011 3:14 pm  

Big Graeme wrote:

Mmm a flogging off gold reserves type situation.

An equally potty idea and I said so at the time.