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UK Banking

Discussion in 'General Forex Talk' started by kwkpr, Jan 18, 2009.

  1. kwkpr

    kwkpr Recruit

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    Hi all i am looking at buying some banking shares in the uk market. which banks do you think will recover the fastest when things turn round ?

    thanks
     
  2. rpaco

    rpaco Sergeant

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    Well at the moment I would not buy into any banks, there are rumours of bad things to come.
    Whilst they have been shamed into starting banking again instead of gambling with CDOs many of them have either undisclosed debts or will be on very dodgy ground as they try to survive on vastly reduced revenue.

    In the UK we have borrowed vast amounts and given them to the banks with the idea that they lend it to businesses and in mortgages, however they are just saying thanks and sitting on it. The base rate has been lowered down to 1.5% to encourage borrowing and help thos with mortgages but the banks are not passing on the cuts.

    Expect Barclays SP to drop next.
     

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