tiger222

WOW, did you guys hear the news - Lehman Brothers is filing Chapter 11?!?!
AND Merrill Lynch has been bought out by Bank of America.
All this BAD NEWS can't be good for anyone!!

Fly Away

I think he needs to hire a hitman.

I heard this morning. Can't believe it's still going downhill in the USA, thought you guys had started to pick up.

tiger222

This news will show that the previous drops were just troughs - artificially propped up by the FED - this will be a wild day on Wall Street

Fly Away

Just watching the BBC news. I hope it is not the start of something worse. I was working in Financial services in 1989/1990 and went through all that. Got out in 1990 because my job was looking shaky. My OH works for a big UK bank.

What a day to try and sell a house. Goodness knows where we will put the equity even if it goes through.

AshyB

i'll look after it for you
(can't do any worse than the big banks!)

hope your OH isn't affected by it too badly...

Fly Away

Thanks - his contract ends in Jan and if we (EVER) get the visa we could just take off if they finished him earlier, so that isn't too much of a worry. (One of the reasons we are moving is because of his work uncertainty anyway.)

The other thing which will be affected is the exchange rate - it was at 2.2 today. Bet it goes down now. Bugger, we were waiting for exchange to forward fix a rate....:curse:

knockoff nige

You can fix a rate with ukforex. If you sign up with them. They'll keep nagging you for funds though even when you tell them you're still waiting on them!!!!

Fly Away

Thanks hun - we didn't want to do that until we are 100% we will have the money as they can do you for breach of contract if you don't honour the agreement.

knockoff nige

They can but sure so what if you're not in the country lol. I guess if it mounts into the thousands then it becomes an issue.

Fly Away

LOl, UKforex are part of the same company as Ozforex..... think they might find you. It is rather a lot of money, so they would definately be after us.

knockoff nige

Ah you're just not up for taking risks lol.

mary1967

I'm just lost for words - i take it they'll be ready for tomorrow?

AshyB

the interest rate will have to be variable based on how likely you are to hunt me down for it!

what line of work is your OH in?

don't say that - i'm hoping the rate goes up to $2.25/$2.30 when we're ready to convert...

Fly Away

Not this sort.

God knows! Knowing our buyer he will post a cheque....

I was hoping that too, but if they drop the UK interest rates - which they say they will in October, the exchange rate will suffer as the Ozzie interest rate is higher.

jane BK

Oh well there goes my house profit in the credit crunch, in the interest rate downturn. Think I may actually be cursed!