Are bradford and bingley shareholders ever going to get any money back?
It appears very unlikely that we Bradford & Bingley shareholders (I lost £3,700) will ever get any of our money back – unless, that is, we’re prepared to fight for it. As a journalist, I smell a rat. I believe that B&B was in a solid enough trading position to keep going for months, but the Government decided to nationalise it as a pre-emptive measure when it wasn’t strictly necessary. As you’ll see if you consult my blog (just put my name into Google and you’ll find it) which was widely quoted in the press immediately after the nationalisation, the CEO of B&B said the business was “well capitalised” and “fit for purpose going forward” – and he was speaking only two trading days before the nationalisation was imposed on it. Nothing happened to change B&B’s trading position in those two days, so investors like me put their money into its shares. I’m trying to establish whether the CEO was wrong and B&B was insolvent at the time he made his comments, because if that was the case, the Gov
