Thursday, October 04, 2007

Gossip

Somebody told me last night that all four of the large UK banks had been interested in buying Northern Rock but that it was impossible to do a deal before the crisis hit the headlines because of EU transparency laws. Such are the perils of succumbing to EU legislation and regulation. Now private equity companies are going through its books. The feeling is, however, that there won't be much in it for shareholders.

3 Comments:

Blogger kinglear said...

... but only if they give away a discount to the mortgages they hold. And why would they do that? Only if they are truly stupid and have loaned more than say 95% overall. According to the stories,their average LTV is much lower than this, so why give it away? The loan book is valuable, it's just a question of trading it out.

9:18 am  
Blogger Eurodog said...

Keep your money under the mattress!
Or buy a property in one of the Baltic States, buy a vineyard in South Africa, buy a Maserati and above all, have fun.

9:40 am  
Blogger Eurodog said...

Left a message for you on my blog in "Shocking in pink".

9:49 am  

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