Financial times in the States are bad....

[panzerwagen]

and it appears it's not over. Some of our big financial houses are folding like a deck of cards. Lehmann Brothers & AIG along with Merrill Lynch have gone down the toilet with WaMu soon to follow. How are things in the UK? Anybody on the ledge? Wall St. is a horror house. People are watching their 401K's wilt & crumble like leaves in Autumn. Very bad. The US goverment has stepped in certain cases to rescue these places but it may not rescue all of them. Some will fall & never come back.

[saltinot]

How are things in the UK?

You should ask Auntie Beeb.

[macspring]

401Ks = ?

[Knight Rider S4]

AMerican style pension scheme

[Fat Audi 80]

Difficult to tell IMO.

We are having a big bank take over another very big bank to avoid having a big hole in our financial market here.

A lot of it is down to perception. If you can make it look like things are getting better it restores confidence. However, I don't think we are out of the woods yet.

Batten down your financial hatches boys, it could still get rough out there....

Cheers,

Steve.

[Oldschool AG]

Wow, thanks for the breaking news flash! Your point is?????

[Knight Rider S4]

Wow, thanks for the breaking news flash! Your point is?????

And welcome to you to ....

[Fat Audi 80]

Wow, thanks for the breaking news flash! Your point is?????

Was that aimed at me?

[Rusty]

Wow, thanks for the breaking news flash! Your point is?????

Wound up tighter than a 2.2 bar WG spring Take a son!

Things aren't good, I think my mortgage is with HBOS, have to wait and see what the postie says! Inflation is going mad too. Petrol isn't coming down even though oil has. Of all the times to be cut off from normal life this is a pretty good one TBH

Unfortunately it was always going to happen, too many risks are taken when the good times are here, it's human nature and that'll never change...

[S2central.net]

It was always going to happen - twas just a question of when - lots of 'smart money' screwed things up big time.

Tis a worrying time alright - working in a startup here too and in the middle of the next funding round - scarey biscuits...

[T2Andy]

greed

[Error404]

Totally right Andy. IMHO none of these banks should be bailed out, the ones that are at the top and failing are the ones that took the most risk with their investments. This is why HBOS is bought out by LloydsTSB, a bank half their size a few months ago, who seem to have kept their lending sensible and blance sheets in check, and as a result are not in such a bad way.

I think all the investment banks will eventually fail and/or be taken over. We are seeing a seismic shift in the financial system, well overdue IMHO, and as a non-homeowner who didn't want to pay double a properties realistic long term value, i'm quietly smug that i made the right choice

[T2Andy]

im glad i bought my house nearly 20 yrs ago,

[Ross]

Totally right Andy. IMHO none of these banks should be bailed out, the ones that are at the top and failing are the ones that took the most risk with their investments. This is why HBOS is bought out by LloydsTSB, a bank half their size a few months ago, who seem to have kept their lending sensible and blance sheets in check, and as a result are not in such a bad way.

I think all the investment banks will eventually fail and/or be taken over. We are seeing a seismic shift in the financial system, well overdue IMHO, and as a non-homeowner who didn't want to pay double a properties realistic long term value, i'm quietly smug that i made the right choice

Amen!!

I expected this type of global situation would happen - admittedly, I began to wonder as I suspected it would fall apart before now... it was inevitable; I spent time in the US and was flabberghasted at the financial irresponsibility. Then I came back to the UK and my eyes were opened to how much worse we are!!

Too many people given too much money to spend that they hadn't earned yet. I'm just dissapointed that taxpayer money is being used to prop up Gordon's false ecomony... it's a house of cards, and though I sympathise with those will lose out and of course, I could eat my own hat if I lose my job in a recession, it needed to fall.

My 2c.
Ross

[Rusty]

im glad i bought my house nearly 20 yrs ago,

I didn't cos I'd have been 6!

I bought last year just before things started to go wrong. Thankfully I bought in a desirable area at a fair price and only last month an identical property was for sale at the same money I paid. I bought the house to live in and not make money so I'm happy to sit here and wait...