HBOS in merger talks with Lloyds/TSB

[Beej]

Yahoo link (http://uk.news.yahoo.com/pressass/20080917/tuk-hbos-could-merge-with-lloyds-tsb-6323e80.html)

As a shareholder (admittedly received for free) I have see the price of their shares drop from over £10 down to less that £2 today:mad::mad::mad:. Oh well it's only money!!

[holliemon]

Not good news seems like its the Halifax that are in trouble - I thought earlier it was the Lloyds/Tsb who were in trouble - what a shocker - is our money safe?

Not going to be good for our area as they are saying up to 6000 jobs could be on the line - a friend of mine will know at the end of the month if his job his safe - 2 units in his area of work and one unit has to go

[Gizmos]

Not good news seems like its the Halifax that are in trouble - I thought earlier it was the Lloyds/Tsb who were in trouble - what a shocker - is our money safe?

Not going to be good for our area as they are saying up to 6000 jobs could be on the line - a friend of mine will know at the end of the month if his job his safe - 2 units in his area of work and one unit has to go

if your unsure - move it

[moosey]

According to Martin Lewis, everyone is covered for up to £35,000 per person per financial institution. So if a bank collapses apparently we get the money back up to 35 grand. I have my accounts and ISAs with the Halifax - nowhere near 35 grand sadly. However, things are a trifle worrying to say the least.:(

[gobbyash]

http://news.bbc.co.uk/1/hi/business/7622180.stm

http://boards.fool.co.uk/Message.asp?mid=11224979&sort=whole

http://boards.fool.co.uk/Message.asp?mid=11225603&sort=whole#11225764

The Dow fell over 300 points in the last half hour of trading.

gobby

[princesskerry]

I thought Lloyds TSB had actually bought them out today.
A friend of mine is a mortgage advisor for Lloyds and she said they are weathering the storm fine and everything going around internally is suggesting that everyones jobs are safe. She said that apparently Lloyds only lend there own money, i.e. our savings where the other banks borrow too that is why both Lloyds and another bank (cannot think of the name at moment) were both looking at merges with other banks that were struggling.

[holliemon]

if your unsure - move it

That is my first job this morning

[navara]

if your unsure - move it

That is my first job this morning

If investors panic we will have another Northern Rock situation just keep under £35k in different Banks

[Scottishnellie]

I agree Navara.

The first 35K IS GUARANTEED. So no need to move it. If people do start knee-jerk reactions and moving money thenit will cause real problems.

There's info about it on MSE if anyone is unsure.

[dune]

i feel like someone in prison break

i move away from the Halifax to the Leeds Permanent for my mortgage and Halifax took them over. I move my current account away from Lloyds TSB to Halifax because TSB said they didn't pay good interest on cheque accounts now TSB takes them over

Also the Halifax rights issue to raise 4billion pounds now seems a con

Not too happy at the mo with Halifax so will be moving my cash as a protest