The UK crisis haunts again …
A total of EUR791 million was borrowed in overnight funds at the 5.00% penalty rate as of Sunday, the European Central Bank said. AUTSCH …
UK lenders sold off heavily as Bradford and Bingley (down more than 23%) came out with a profit warning …
Northern Rock replayed???
HBOS were down more than 11% as investors ducked & covered 
Sunday Times had an article saying “Here comes the WAVE of profit warnings”.
And: as the Citi never sleeps 
“Falling house prices will push almost one million homeowners into negative
equity by the end of next year, according to a report yesterday.
By the end of this year 250,000 could find the value of their home is less than
the size of their mortgage, it said.
The U.S.-based bank Citigroup, which produced the report, said the number of
homeowners in negative equity at the moment is a ‘modest’ 35,000. ”
However, property prices could fall by 15 per cent, or possibly more, by the end of 2009.
Its chief UK economist, Michael Saunders, said that if this forecast is correct, almost one million homeowners will be in negative equity.
Be aware …
Tags: Bradford & Bingley, ECB, financials, HBOS, housing, U.K.
Juni 2nd, 2008 at 19:27
I am aware
But the meltdown takes so long so long so long,
too long
No?
Juni 2nd, 2008 at 19:43
Manipulation makes it “long”, but in the end it will fall harder …
patience pays
Juni 2nd, 2008 at 19:57
Hey
No one I know is more patient than me
Still ever since january 2007 (seven) is a long long long time
Maybe the meltdown comes after Bejing olympics
or the US elections?
What u think Olli?
Juni 2nd, 2008 at 20:26
That is patient …
I personally never give up on a good thing …
The best thing about the current market … you can earn a lot of points … as it always snaps back … sometimes dragging and difficult … but who said, it will be easy?
It should fall BEFORE the elections … and AFTER