Another day, another bank is a gonna. HBOS is UK's largest mortgage lender and deposit taker/holder and the prospect of it going under was too much for the gova. Lloyds TSB will almost certainly get gova assistance so it can take over a much bigger bank than itself.
The US continues to confound. The excuse that AIG was going to cause systemic damage is BS of the highest order because a credit insurer without funds doesn't amount to much and that is what it was in terms of the financial sector. Menawhile, rumours abound that there was a Lehman stitch-up job between Barclays and the Fed. Funny story, ati Man U will now be sponsored by the FED.
At the NSE, its all downhill, demand/supply volumes are such that its even pointless trying to adjudge what is a good price to enter a share. It’s even harder to explain rationally why the fall has been so resolute apart from the reasons postulated. And of-course the ground slipping from beneath the global economy.
The thing about this bearish NSE. Kind of reminds of a remark that Warren Buffet made when everybody was still rolling in derivatives. “Only when the tide goes out do you discover who’s been swimming naked.” We are about to find out which brokers are naked i.e. trade on client accounts regularly because a bear like this will surely mean that we'll be selling at some point. AIB has been mentioned. It has come up with a strange new "CMA-rule". That every time you email an order, they have to call you to confirm the order.
Pity about Mwatela, unlike Githongo, I wish she had stood and fought this thing, but parliament is on holiday (how many whole days is bunge actually in session on an annual basis?) so nobody will really stand up for her and she was probably threatened with zero pension pay-off.
We are good at endurance sport so we should be good at Tour de France? Non? Oui? Lets wait and see... Btw, who is Myangi? Honestly, you'd never see tony brair so why do western guys get it wrong even on print?
6 comments:
Who is AIB? The name doesn't ring a bell and Google has no clue.
Afrika Investment Bank, the broker formerly known as Ashbhu
Thanks. Never even knew they existed.
is the diaspora stil keen on NSE investments? that could partly explain the downward trend
Banks,
Diasporans are being hit hard with the end of easy money. I know a few who were using their home equity loans to finance their real estate investments.
I am also certain that remittances will be decrease especially now that unemployment levels are creeping up and minorities tend to be hit hard during such periods.
Guys will still invest at the NSE because it doesn't require similar amount of capital as real estate.
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