SAK

Northern Rock Announce press conference for 11am.

Barclays had to borrow £1.6 Billion just a couple of weeks back. They tried to explain it as a glitch with the clearing system but no ones buying that story http://uk.biz.yahoo.com/31082007/214/barclays-confirms-1-6bn-boe-emergency-loan.html. To go off topic slightly the global money markets are in turmoil due to reckless lending practices. The main trigger at the moment is that the US housing market is crashing as loans which were given out to every Tom, Dick, and Harry are now being defaulted on. These mortgages were sliced up into packages ( called CDO's http://en.wikipedia.org/wiki/Collateralized_debt_obligation) and then sold onto investors (pension funds, hedge funds, other banks etc). Now these CDO's are practicly worthless and finacial instituations are holding bits of paper which were sold to them for 100's of billions. The banks don't trust each other as they don't know who is solvent and have stopped lending to each other http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article2446026.ece. This has caused a liquidity crisis and forced the BOE to step in. The European Central bank and the FED have done the same by lending 10's of Billions. For institutions like Northern Rock they can no longer easily borrow money on the money markets. This will mean higher lending costs being passed on to borrowers. http://www.thisismoney.co.uk/mortgages/mortgages/article.html?in_article_id=424240&in_page_id=1 Edit: For spelling.

If they do go bust another bank would buy up their assets (loans) so debtors would end up oweing the money to someone else. For savers they would be covered by the FSA's scheme for 100% of their first £2000 and 90% of the remaining £33,000. The ones to lose out would be ordinary shareholders.

Looks a bit Chris Waddleish to me? Talking of hair...that Jody Handley needs to do something about the old receding hairline.

Ok lets get to the important stuff, are there any hot chicks playing in this tournement?

Changed tiltle as soon as I spotted the mistake. Guess you were too fast for me.

Title is self explanatory. For those interested.

Was about to post the exact same thing. The c***. He barely could get the words out when we got the third. Cunt.

Crap.

Would never guessed we would be 3 up with 30 minuteish played. Brilliant.

Ha ha.

Murphy just missed a good chance for Sunderland.

Carr/Nobby/Ron will do me if we can't find anyone good enough. Left-back was ridiculous. Ron? Ron= Ron Geremi as in Ron Jeremy?

From the reaction of the Villareal fans it sounds promising.

No thanks.

Terrible news for the lad, moves to a new country and gets injuted before the season even kicks off.

yes, what were you doing there?

Parker and Appiah as CM's. Thats one combo bursting with creativity http://home.skysports.com/list.aspx?hlid=476330&CPID=8&clid=21&lid=2&title=Appiah+wants+West+Ham+talks He say's Fener should listen to West Hams offer and other offers made (doesn't sound like he's exactly got his heart set on West Ham). Reason given for wanting a move to England is for his childrens education. We should put in a bid.

Done, and the best of luck.

Ok I'll play along, how much?

How crap is this ref?

Do we think Geremi is being brought in as first choice right back, If so why the interest in Habib Beye? Unless of course Beye will be brought in to play centreback. Not very clear what Allardyce is planning, guess things will become clearer in due course.

If both deals come off in addition to the already signed Viduka, Barton, and Rozenhal then this will be on one of the best transfer windows in recent memory. Plus there's the possibility of Geremi. Can't wait for the new season. We could be right in the mix if we can keep hold of Owen and Martins (or am I getting carried away?).

Is martins clause confirmed though? I recall Allardyce saying Owen had one but nothing mentioned about MArtins.