capitalism at it's most ugly - HibeesBounce.com

**egb_hibs** · 20-03-08, 10:08

i don't know what you call these feckers, but these chaps that are supposed to be spreading rumours to fuck with HBOS share price so they can short the stock need there baws rapped.

in the fragile climate we're in, rumours could spark a run that could kill it, jeapordising the savings of normal joes, in a way that would make NR look like childsplay.

i don't know the technical terms - i don't know my hedge funds from my futures (or even if they're the same) but there's something wrong with this - that market movers can fuck with companies to make money on it.

**DarrenSQH** · 20-03-08, 10:10

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Originally Posted by egb_hibs
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i don't know what you call these feckers, but these chaps that are supposed to be spreading rumours to fuck with HBOS share price so they can short the stock need there baws rapped.

in the fragile climate we're in, rumours could spark a run that could kill it, jeapordising the savings of normal joes, in a way that would make NR look like childsplay.

i don't know the technical terms - i don't know my hedge funds from my futures (or even if they're the same) but there's something wrong with this - that market movers can fuck with companies to make money on it.

Got so many emails at work about this yesterday. Think the bank was panicking big time. At one point the share price yesterday went to £3.98 when only a year ago it was nearly £12.

**wee 162** · 20-03-08, 11:37

It's just news because of the current financial climate. Stuff like this happens all the time on the markets. A rumour starts, panic ensues. Someone makes a killing.

Fact is though that the same situation exists as always has. Not a bank in the world can meet all their customers deposits. If every single person in the world withdrew their money the entire banking system would collapse.

I don't blame those looking to make a killing from starting rumours for that, I blame the economic system which allows it to happen.

**egb_hibs** · 20-03-08, 12:05

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Originally Posted by wee 162
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I don't blame those looking to make a killing from starting rumours for that, I blame the economic system which allows it to happen.

sorry but that's a bit bonkers. i take it you don't blame murderers then, but rather the manufacturers of knives, boots, hammers etc

the bit about everybody withdrawing their money is a bit irrelevant too. in terms of physical limits, banks could print up enough paper money and keep it sitting about, but whats the point - all you do is destroy forests for no reason. in terms of limits caused by banks investing savings - so what? people save money to gain interest - the system works on the basis that people don't need all their money in their hand at the same time and will sacrifice liquidity to varying degrees for varying degrees of return.

there's not enough airport capacity for all the worlds planes to be on the ground at the same time, should we tarmac more greenfields to sort that out?

or should we just acknowledge that these are all sensible examples of resource management.

**wee 162** · 20-03-08, 12:24

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Originally Posted by egb_hibs
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sorry but that's a bit bonkers. i take it you don't blame murderers then, but rather the manufacturers of knives, boots, hammers etc

Straw Man Alert!

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Originally Posted by egb_hibs
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the bit about everybody withdrawing their money is a bit irrelevant too. in terms of physical limits, banks could print up enough paper money and keep it sitting about, but whats the point - all you do is destroy forests for no reason. in terms of limits caused by banks investing savings - so what? people save money to gain interest - the system works on the basis that people don't need all their money in their hand at the same time and will sacrifice liquidity to varying degrees for varying degrees of return.

And then can't cope if people want their money back. It's not the physical money which is the problem, it's the fact that the banks do not have enough to honour their promise to keep peoples money safe.

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there's not enough airport capacity for all the worlds planes to be on the ground at the same time, should we tarmac more greenfields to sort that out?

or should we just acknowledge that these are all sensible examples of resource management.

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**egb_hibs** · 20-03-08, 12:32

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Originally Posted by wee 162
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Straw Man Alert!

ok forget the comparisons - it's still bonkers.

Quote:

And then can't cope if people want their money back. It's not the physical money which is the problem, it's the fact that the banks do not have enough to honour their promise to keep peoples money safe.

that second straw man i dispute. it's a perfectly valid illustration of the point in a different context; ie why would you pointlessly over provision for what is actually required?

this is a totally made up problem Al.

**SG7nil** · 20-03-08, 13:26

To be fair, this situation would have been MUCH worse for them if Halifax had not taken over (yep it was as much of a merger as Wallet envisaged for Hertz & Hibs) the old Bank of Scotland .

Halifax was (and is) a very badly run company.. all their eggs in one basket type of operation. If they hadn't acquired other (well run) businesses while the going was good (while the mortgage market was in its heyday) they'd have gone the same was as Northern Rock by now.

As it is, the part of HBOS that was the oldco BoS actually contributed more to the profits of the parent company than the entire retail operation of the old Halifax... despite Halifax having emptied most of the oldco BoS management and running the company in their own peculiar ways (who can understand the mentality of the Yorkshiremen who are a breed apart from even the English!?)

Add to that, some of the other diversified Insurance and Investments arms of HBOS and the profits they chipped in (bearing in mind the comparatively tiny size of these parts of the company) and you can see that Halifax would have been in a REAL mess.

In fact buying the BoS was posibly the only decent management decision that the company have made in the last 5 years.
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Shady · 20-03-08, 14:34

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i don't know what you call these feckers, but these chaps that are supposed to be spreading rumours to fuck with HBOS share price so they can short the stock need there baws rapped.

in the fragile climate we're in, rumours could spark a run that could kill it, jeapordising the savings of normal joes, in a way that would make NR look like childsplay.

i don't know the technical terms - i don't know my hedge funds from my futures (or even if they're the same) but there's something wrong with this - that market movers can fuck with companies to make money on it.

I agree 100%, Im in he same industry as these cowboys and often get tarred with the same brush.

Every time the FSA have come in for their reviews weve told them they need to get their prioirities right and go after these guys cos so easy to do, is absolutely rife and so blatant.

Its not that difficult to track own the sources of these rumours either, all our telephone calls, emails etc are kept on record for the FSA to access whenever they want. And even if they dont make a prosecution this time, hopefully the intention itself will be a deterrent.

**alnewhaven** · 20-03-08, 21:39

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Originally Posted by wee 162
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And then can't cope if people want their money back. It's not the physical money which is the problem, it's the fact that the banks do not have enough to honour their promise to keep peoples money safe.

But most 'money' is intangible unless you go back to the 'Gold Standard'

Colr · 20-03-08, 22:08

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Originally Posted by egb_hibs
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i don't know what you call these feckers, but these chaps that are supposed to be spreading rumours to fuck with HBOS share price so they can short the stock need there baws rapped.

in the fragile climate we're in, rumours could spark a run that could kill it, jeapordising the savings of normal joes, in a way that would make NR look like childsplay.

i don't know the technical terms - i don't know my hedge funds from my futures (or even if they're the same) but there's something wrong with this - that market movers can fuck with companies to make money on it.

Hedge funds - bunch of dodgy feckers. Clever bastards, though. It just a shame they aren't encouraged to put their intellects to better use for better remuneration.

**madkink** · 20-03-08, 23:43

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Originally Posted by egb_hibs
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i don't know what you call these feckers, but these chaps that are supposed to be spreading rumours to fuck with HBOS share price so they can short the stock need there baws rapped.

in the fragile climate we're in, rumours could spark a run that could kill it, jeapordising the savings of normal joes, in a way that would make NR look like childsplay.

i don't know the technical terms - i don't know my hedge funds from my futures (or even if they're the same) but there's something wrong with this - that market movers can fuck with companies to make money on it.

They other day there HBOS lost something like 10 - 12 % of the price off there shares and haven't really recovered, so these nasty romours may be true

Colr · 21-03-08, 00:03

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They other day there HBOS lost something like 10 - 12 % of the price off there shares and haven't really recovered, so these nasty romours may be true

Its God punishing HBOS.

**egb_hibs** · 21-03-08, 00:10

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Its God punishing HBOS.

surely not. HBOS are on god's side, it would be rbs he'd take issue with.

(BoS having funded the jacobites, and RBS the hanoverians
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Colr · 21-03-08, 00:22

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surely not. HBOS are on god's side, it would be rbs he'd take issue with.

(BoS having funded the jacobites, and RBS the hanoverians
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HBoS blocked my credit card because I missed a payment. I missed a payment because I was in hospital dealing with the dramatic arrival of my son. I explained this - they didn't give a shit.

That was a time when a credit card would have been useful.

Bastards.

**egb_hibs** · 21-03-08, 00:26

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Originally Posted by Colr
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HBoS blocked my credit card because I missed a payment. I missed a payment because I was in hospital dealing with the dramatic arrival of my son. I explained this - they didn't give a shit.

That was a time when a credit card would have been useful.

Bastards.

that's fckn poor.

**Dr Shrink** · 21-03-08, 01:00

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that's fckn poor.

Not really.

They are all a wunch of bankers.

Colr · 21-03-08, 01:08

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Originally Posted by egb_hibs
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that's fckn poor.

Just pop a jobby through their letterbox/
.

**Lix** · 21-03-08, 02:17

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Originally Posted by wee 162
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It's just news because of the current financial climate. Stuff like this happens all the time on the markets. A rumour starts, panic ensues. Someone makes a killing.

Fact is though that the same situation exists as always has. Not a bank in the world can meet all their customers deposits. If every single person in the world withdrew their money the entire banking system would collapse.

I don't blame those looking to make a killing from starting rumours for that, I blame the economic system which allows it to happen.

Totally correct.

I can barely remember a week (or even a day) going by in all the years I've worked in financial markets where some rumour or another hasn't surfaced from somewhere.

It's just li

20-03-08, 10:08	#1
egb_hibs Khmer Radge Join Date: Jul 2002 Location: From the Capital Posts: 20,706 My Mood: Thanks: 1 Thanked 5 Times in 5 Posts Rep Power: 30 vCash: 500 Arcade Stats:	capitalism at it's most ugly i don't know what you call these feckers, but these chaps that are supposed to be spreading rumours to fuck with HBOS share price so they can short the stock need there baws rapped. in the fragile climate we're in, rumours could spark a run that could kill it, jeapordising the savings of normal joes, in a way that would make NR look like childsplay. i don't know the technical terms - i don't know my hedge funds from my futures (or even if they're the same) but there's something wrong with this - that market movers can fuck with companies to make money on it. __________________ "All democrats object to men being disqualified by the accident of birth; tradition objects to their being disqualified by the accident of death."

20-03-08, 11:37	#3
wee 162 Bounce Flag Co-Owner Join Date: Jun 2002 Location: Sunny Leith Age: 34 Posts: 12,697 Thanks: 0 Thanked 0 Times in 0 Posts Rep Power: 32 vCash: 500 Arcade Stats:	Re: capitalism at it's most ugly It's just news because of the current financial climate. Stuff like this happens all the time on the markets. A rumour starts, panic ensues. Someone makes a killing. Fact is though that the same situation exists as always has. Not a bank in the world can meet all their customers deposits. If every single person in the world withdrew their money the entire banking system would collapse. I don't blame those looking to make a killing from starting rumours for that, I blame the economic system which allows it to happen. __________________ To view links or images in signatures your post count must be 5 or greater. You currently have 0 posts. quality='high' bgcolor='#006699' width='300' height='184' name='indecision_2008_action_item' align='middle' allowScriptAccess='always' allownetworking='external' type='application/x-shockwave-flash' pluginspage=' To view links or images in signatures your post count must be 5 or greater. You currently have 0 posts. who seek to be equal with men lack ambition.” Timothy Leary

20-03-08, 13:26	#7
SG7nil Pedantic Fact Hunting Radge Join Date: Mar 2007 Location: Where the Chief puts the Sunshine Posts: 2,679 My Mood: Thanks: 141 Thanked 121 Times in 65 Posts Rep Power: 7 vCash: 500 Arcade Stats: Blot In Hell Champion! Harry the Hamster Champion! Holding Champion! Hovercraft Racing Champion! Jewels Of Hell Champion! Mastermind Champion! Meta Ploy Champion! Tic Tac Toe Champion! Zodiac Slots Champion! Tournaments Won: 2	Re: capitalism at it's most ugly To be fair, this situation would have been MUCH worse for them if Halifax had not taken over (yep it was as much of a merger as Wallet envisaged for Hertz & Hibs) the old Bank of Scotland . Halifax was (and is) a very badly run company.. all their eggs in one basket type of operation. If they hadn't acquired other (well run) businesses while the going was good (while the mortgage market was in its heyday) they'd have gone the same was as Northern Rock by now. As it is, the part of HBOS that was the oldco BoS actually contributed more to the profits of the parent company than the entire retail operation of the old Halifax... despite Halifax having emptied most of the oldco BoS management and running the company in their own peculiar ways (who can understand the mentality of the Yorkshiremen who are a breed apart from even the English!?) Add to that, some of the other diversified Insurance and Investments arms of HBOS and the profits they chipped in (bearing in mind the comparatively tiny size of these parts of the company) and you can see that Halifax would have been in a REAL mess. In fact buying the BoS was posibly the only decent management decision that the company have made in the last 5 years. To view links or images in this forum your post count must be 5 or greater. You currently have 0 posts. __________________ To view links or images in signatures your post count must be 5 or greater. You currently have 0 posts.