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Hbos
- Thread starter Bozza
- Start date
Uncle Spielberg
Well-known member
Whatever
Uncle Spielberg
Well-known member
FSA acts on HBOS 'funding problems' rumours
Published Date: 19 March 2008
The City watchdog launched an inquiry into potential stock market abuse today after it said traders had been been profiting from spreading false rumours.
The Financial Services Authority (FSA) warned it would not tolerate traders starting rumours and dealing off the back of them in the current market turmoil.
Halifax Bank of Scotland has reportedly been at the centre of the rumours after its shares plunged amid speculation of funding problems. HBOS strongly denies any such problems.
Sally Dewar, managing director, wholesale and institutional markets at the FSA, said: "There has been a series of completely unfounded rumours about UK financial institutions in the London market over the last few days, sometimes accompanied by short-selling.
"We will not tolerate market participants taking advantage of the current market conditions to commit abuse by spreading false rumours and dealing on the back of them.
"We remind market participants of the need to take extra care, in this market climate, to adhere to the market code of conduct."
Published Date: 19 March 2008
The City watchdog launched an inquiry into potential stock market abuse today after it said traders had been been profiting from spreading false rumours.
The Financial Services Authority (FSA) warned it would not tolerate traders starting rumours and dealing off the back of them in the current market turmoil.
Halifax Bank of Scotland has reportedly been at the centre of the rumours after its shares plunged amid speculation of funding problems. HBOS strongly denies any such problems.
Sally Dewar, managing director, wholesale and institutional markets at the FSA, said: "There has been a series of completely unfounded rumours about UK financial institutions in the London market over the last few days, sometimes accompanied by short-selling.
"We will not tolerate market participants taking advantage of the current market conditions to commit abuse by spreading false rumours and dealing on the back of them.
"We remind market participants of the need to take extra care, in this market climate, to adhere to the market code of conduct."
Uncle Spielberg
Well-known member
Still you know best Afters.
Rusthall Seagull
New member
So, where do STOCKBROKERS come into it? not a question of 'who knows best' - just not making up total bollocks
Uncle C
Well-known member
Quote:
Originally Posted by Uncle Spielberg
The savers were withdrawing money and running to the hills on the back os scare mongering stories punted about by stockbrokers that is no trade secret even the government and FSA were commenting on it and looking into it.
that's rubbish!
I friend of mine works in a BS opposite the Halifax. They had a very, very busy day yesterday with punters (many with their life savings) bringing funds across the road having withdrawn then from the Halifax.
One old chap had heard all the City gossip and came across with a carrier bag containing £47,000.
Originally Posted by Uncle Spielberg
The savers were withdrawing money and running to the hills on the back os scare mongering stories punted about by stockbrokers that is no trade secret even the government and FSA were commenting on it and looking into it.
that's rubbish!
I friend of mine works in a BS opposite the Halifax. They had a very, very busy day yesterday with punters (many with their life savings) bringing funds across the road having withdrawn then from the Halifax.
One old chap had heard all the City gossip and came across with a carrier bag containing £47,000.
aftershavedave
Well-known member
clearly i do. and i quote:
"People saying oh another Bank will take on the mortgage book are woefully incorrect.
Consdiering HBOS have between 25-30% of the UK mortgage book there is not the capacity for other Banks to take on that amount of new mortgages."
Your allegations against "stockbrokers" whatever you believe the term to mean, are equally sensationalised, and dare i say, crap.
Uncle Spielberg
Well-known member
Fair point afters but I think Lloyds Tsb were persuaded to do it with a lot of government backing and sweeteners so its a halfway house.
Uncle Spielberg
Well-known member
Afters what about this which you totally poo pooed as being rubbish.
Uncle Spielberg
Well-known member
Being a Wanker.
Bars Mar
Registered Drug User
Once Again Some Serious Owning Going On By Garth. Ever Thought Of Going Into Politics? I'd Vote For You.
Rusthall Seagull
New member
aftershavedave
Well-known member
are you seriously telling me that an old fella with his "life-savings" withdrawn from the halifax caused the collpase of HBOS?
are you seriously telling me that there was a massive run on deposits with people queuing in the streets to remove their cash?
are you seriously telling me that there aren't other fundamental reasons why hbos collapsed that don't involve their cost of funding?
you're a sensationalist gareth, and it simply doesn't wash.
Bars Mar
Registered Drug User
f***ing Hell There's More Smears On Here Than In A Gynaecologist's Fingers. And Get His f***ing Name Right. There's No E In Garth.
f***ing Bullies.
Uncle C
Well-known member
It was the low lifes in the City that helped to bring HBOS down. All the experts showed it was adequately funded to weather the storm.
Then the City boys got working on their next bonuses.
Then the City boys got working on their next bonuses.
Rusthall Seagull
New member
me and my mate made $80m dollars on the back of it.....
your posts are zzzzzzzzzzzzzzzzzzzzzzzzz
Lokki 7
WSU
Did these "experts" include a mortgage broker from Southwick by any chance? Banks do not go bust because of "stockbrokers" or media stories and rumours.
Perry Milkins
Just a quiet guy.
Indeed, they go bust by the mischief of Hobgolbins and the wizardry of witchdoctors - a fair distance from Southwick.