That was the headline, the other day, when the HSBC reported a fall in half yearly profits. It sounds bad and the usual suspects are on TV and in the papers telling us how the credit crunch is getting worse. Oh my God! This is Europe’s largest bank and even they can’t survive, what will [...]
Northern Rock is expecting to pay back its loan to the Bank of England by 2010. But they have said that, should the credit squeeze get worse and house prices start to tumble, then the repayments could be in jeopardy and they may struggle to make their commitments. Do you think they will now be [...]
Northern Rock had a s**t business plan, they were a poor company with awful managers. This was a firm that deserved to go under. Luckily, for their customers, they were bailed out. Now we have the situation of other banks who, because of their poor business practices in the past, are refusing to lend to [...]
