Northern Rock

[jonny_five]

Has anyone heard of any news about the Northern Rock and potential redundancies. For the people who want to stay there it must be awful.

[JimmyChew]

Sadly, I read the following in the telegraph- the quote is about making 2000 redundancies "the bank is expected to unveil its plan next week - a move which will kickstart a 90-day consultation process with Northern Rock staff and Unite, the financial services union."
very sad news to those who want to work.

[PRESS GANG]

JUST GOT MY NOTE last week that the 1300 redundancies are going ahead we have to put our names forward first but if its accepted we have to work until the end of the notice period too which makes getting a new job harder too whose going to wait for staff when theirs shed loads of people been made redundant round already.

Feel crap at the minute. Useless this government haven't got a clue:(

[windynooker]

Isnt the Newcastle Building Society taking on a few hundred people and giving prioty to guys whove been made redundant form northern rock? The Newcastle Building Society is a bit different to Northern Rock - the money it lends is generally from the savings accounts and not money borrowed, cash rich business i believe.

[CHeezer]

In the words of the Jeremy Clarkson the one eyed scottish idiot has really tyneside -tyneside -tyneside -tyneside -ed up the treatment of shareholders of NR why are we in the Northeast penalised when the tyneside -tyneside -tyneside -tyneside -ney bankers get saved especially when Northern Rock have paid back most of the cash

[Jamie]

Look-Im no brain box. But I look at it like this.

If 1 person I didnt know come to me and said "lend us £100k for a house".

I would say "How much is the house worth?" I would say

"£100k" They say.

I would say "******** off"

Thats me with no brains. If they said lend us half then i would. Most other europeans countries banks ask for 20% deposit. This would have kept house prices down instead of what we have now - a lot of people in the sand. The banks are to blame and guys who actually were stupid enough to take out 100% mortgages too are to blame. This is just part of the problem though and the banks execs should be heavily fined.

[CHeezer]

Essentially yes it is a bit risky to offer 100% mortgages but only a bit risky and there is now published evidence to show that what the difference in mortgage default rates on 100% deals is in comparison to default rates in 90% deals.

[tommyteams]

I have got to join with you there mate the whole Northern Rock thing stinks.
The media have playd the simple card here to as the reason we are in such a whole here is not the result of some dodgy mortgages in america.

The sum of all repossesions in the USA and UK in fact the monetaryn amount of default repossesions is the equivalent of around 15% of the money that the banks have been provided by their respective govt's.

In the case of Northern Rock it was not the Northern Rocks in ability to pay it had and remains today a company with a good mortgage book which is based on its principles applied to mortgage applications. Believe me the Northern Rock never gave mortgages out to any tom dick and harry i couldn't get one and the only debt i had was a £7.91 disputed phone bill with One to One 9/10 years ago.

The problem was down to the fact the some of banks that Northern Rock lent from had forked up and where finding it difficult to raise the cash.

The rock borrowed from a panel of 12 banks all of whom where now refusing to loan any more despite having the ability to loan.

It then strikes me as crass arrogance that some of this panel where where then part of consortia which tried to buy the Rock at a knock down price.

to put in easy terms these people loan a mortgage out then took away the mortgage facility waited till you had paid off most of the debt then kept the house for themselves without paying you. THE SHAREHOLDER

[Lee123]

Who reckons Tommyteams is a shareholder then????????????????

Listen mate Applegarth and his chums got a bit carried away and yes the government is shafting Northern Rock shareholders, but come on you weren't complaining when you were getting the divi

[Lee123]

With the announcement that the rock will be lending again does that mean they'll be taking on staff again soon???

[shaun22]

Looking back over this, the moral of the story is do not take on excessive debts, don't be a consumer, don't try to fulfill your emptiness with material things, have a goal in life, aim for contentment, help and give to others, grow closer as a people, grow closer as a species, grow as human beings, look to the government less for solutions and more to ourselves, look at both sides of any argument and most importantly, if something on the mass media makes you feel emotional then be very very aware of it and cautious of it.

The news and the media are very good and spewing out emotive constructions. Even if Northern Rock weren't in financial trouble, they would be after people were scared into taking their money out of it's coffers and after share prices plummeted.

When something affects you emotionally it becomes embedded in your subconscious mind and you conscious mind. It eliminates either the need to think or the ability to think objectively and clearly.

Before jumping to conclusions, sit back, turn the propaganda off, leave it for a while and go back after asking yourself, how does my knowing about this benefit me and is this clearly designed to make me feel a certain way? Most of the time the answers will be...it does not benefit me and yes it is designed to make me feel fear, confusion and uncertainty, but it is done in such a way as to make me think they are trying to warn me. Warn of what? Just be weary of anything on the news. I don't watch it anymore. Made me feel bad before I left the house and bad when I came in. Then you hear about it from colleagues who have nothing better to talk about, besides the misery on the news, the weather or what they had for tea last night.

The reality is that you are more bothered about your toothache as it affects you directly, than you are about a hundred deaths abroad, because that does not affect you directly.

[shaun22]

On the forum I recently posted information regarding Northern Rock:

http://www.tynesideforum.co.uk/forums/showthread.php?t=353

You may need to scroll down a little.

[Clare]

I reckon banks will end upowning a lot of our homes and rent them out to us back

[kelly-1980]

I agree with you. In fact they already do. Loads of people who stretched their budgets too far lost their homes.

Many companies sprang up preying on the weak, buying their homes to rent them back to them. That was the idea, but instead they bought them, rented them back for a while and then sold them on for much more and evicted the tenants who lost everything. I think North East Property Buyers was the one that got the most media attention.

[RosieJones]

Everone trYs to do this and in doing so get themselves in masses of debt. Best teles. Nice car ect. Just buy stuff with the cash you actually have and save a little and you can't go wrong.

[shaun22]

Our society is getting worse for this too. People are cosmetic, materialistic, having no natural affection, promiscuous, disloyal, selfish, ego-maniacs (just watch Geordie Shore for a severe local example lol).

We seek to ease our own inner pain or to make ourselves temporarily happy by acquiring yet more and more things and stuff, but it won't help. It will cause clutter and debt. Often the object that was once desired so much, becomes an object of hate and misery because of the debt and stress it brings with it into our life.

All of us have more than one of these traits too, and if you can't see it, then you are probably another one...confused...as to who you are, why you are here, what you should do with your life...the list goes on.

Society is designed to make us feel this way so we are easy to mould into debt slaves and not only has it worked, it is still working and most people would deny it. The state of debt is a mental prison without visible bars and a prison which we walk into ourselves.

[shaun22]

By the way people, I am not a negative person, nor do I try to be. I am just brutally honest and call things on what they are, not on how I want them to be. I wish things were different, but until more people step back and look at the reality of society, I can do little.

Alcohol is the opiate of the masses. It kills more people yearly than all illegal drugs combined, but it creates huge profits and is necessary to calm the people.

I think that without alcohol and getting "smashed" at the weekend, people might actually sit back and think. They would realise, gradually, that things aren't rosy and that economies don't just collapse all of a sudden unless the stock market is deliberately manipulated, that buying more and more mass produced rubbish will only lead to misery and clutter, that it is worth saving before buying and that the best things in life are actually free - sight, hearing, taste, touch and smell, love, a smile, friends, family, God etc etc. The rest are experiences, not necessities. Admittedly, I have been guilty of the same materialism as everyone else in my past.