Is Barclays next?

teaboy5

teaboy5

teaboy5

Soldato
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Yeah take it all out and you can put it in the 'safe' off-shore account that I have already set up for you. :D
 
No you shouldn't take your money out if they're in shares unless you are an absolute pleb. Wait for the 'credit crunch' crap to disappear before seeing the share price rise back to 1000p+

Note - on a legal note I take no responsibility for the above not happening.
 
I don't like the way you've used the word "Next" in the OP.
That would imply that they wouldn't be the first and that its already happened to someone else.
That is hardly the case - if you're using Northern Rock as the first then they haven't exactly gone anywhere.
They didn't really have a crash until the media scared people into removing their money from the bank and even then the only real problem was not having physically enough cash in the vaults to cover all of the withdrawls.

If Northern Rock had said nothing (which they couldn't do, legally they had to declare what they had done) then the public would have been non the wiser, there would have been no panic withdrawls and NR would never have even made it into the news.

It takes a hell of a lot to crash a bank of any size these days and there is nothing out there currently that could really take one down.
 
Well, I owe the Barclays tens of thousands and only 1 account is in credit and that's only about £30 in the black so it makes no difference to me if it goes, I still have to pay my loan in accordance with my loan agreement.

So no, I wouldn't even get our of my seat if the queues starts to form outside barclays.
 
Would next not also be part of the whole Morgan Stanley group losing about 3billion?

As in they could both be in trouble.

(Note The above post was posted while slightly drunk so may not be true)
 
stoofa said:
I don't like the way you've used the word "Next" in the OP.
That would imply that they wouldn't be the first and that its already happened to someone else.
That is hardly the case - if you're using Northern Rock as the first then they haven't exactly gone anywhere.
They didn't really have a crash until the media scared people into removing their money from the bank and even then the only real problem was not having physically enough cash in the vaults to cover all of the withdrawls.

If Northern Rock had said nothing (which they couldn't do, legally they had to declare what they had done) then the public would have been non the wiser, there would have been no panic withdrawls and NR would never have even made it into the news.

It takes a hell of a lot to crash a bank of any size these days and there is nothing out there currently that could really take one down.
Click to expand...

Northern Rock have borrowed £23bn from the Bank of England. As far as I am aware that loan can only last until February, once that lifeline goes you'll probably see Northern Rock dissolved and their mortgage book split up and sold on.
No one wants to lend them the money, the BoE are only doing it because it's in their remit to act as lender of last resort.

In this sense NR is first.
 
If Barclays did crash what would happen to me? Seeing as I have a current account (about -£2000 in there) a savings account (8p in there....seriously) and a Barclaycard (spent about £3000 on it)

Will my debts be wiped out? :)
 
ScarySquirrel said:
If Barclays did crash what would happen to me? Seeing as I have a current account (about -£2000 in there) a savings account (8p in there....seriously) and a Barclaycard (spent about £3000 on it)

Will my debts be wiped out? :)
Click to expand...

As far as I am aware they wont be, your debts will be sold on to someone else who will go after you for it. But Im not exactly completely clued up on it, ask an accountant.
 
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