Dear Reader, sorry to waste your time navel-gazing. This concerns the "will he or won't we" over the poor benighted rights issue in UK mortgage bank Bradford and Bingley.
After a long venerable period as the amalgamation of several building societies,
Bradford and Bingley is looking at a troubled future. The £400m rights or capital raising operation will plug the gap for now but being contractually committed to buying uncertain mortgages from U.S group GMAC seems both a waste of time and money.
www.searchaccountant.co.uk
In Bradford there are accountants, who can help individuals and
corporates.
Well, I don't have to think about it until later in the month but in a rash moment
I promised the Missus to cough up the funds for the operation. It is only £184 but
the hols are drawing near and you can't spend the same pound twice. The 184 quid is going either to the bank rescue or to form part of the spending money required for the jolly jaunt in Spain. This last bit makes me very angst-ridden when I contemplate
the performance of sterling against the euro since the start of the New Year.
This has not been good but I am surprised that there has not been more public
comment.
I have looked at the B and B documentation and while not fully understanding the accounts, I can understand the bank has got itself in a right pickle what with
the GMAC deal, which means more self-certified (liar) mortgages on the books.
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