Northern Rock - Anorak Forums

THE reasons for Northern Rock disaster chief executive Applegarth’s quick scuttle out of his office and down the back stairs for full-time departure last week became a little clearer yesterday when the Bank of England admitted the loans to the toppling bank have now hit £60 billion.

It looks very much like New Labour, having got rid of Post Office small saving accounts and completely knackered a traditional method of getting children into a savings habit, is going to have to open its own piggy bank and Nationalise the still massively haemorrhaging Northern Rock.

A Bank take-over can now only be attractive to Sado-Masochists and suicidal accountancy examination candidates. No sane qualified person would take the job on. This is a bleed of jugular arterial proportions. No Virgin plaster is going to fix this: Radical surgery is called for…in clinicians’ parlance it would be termed a commando operation because the surgeon has to do very brave things…. Read on

I said last week, we have fought World Wars on less and this figure represents twice the UK Defence budget.

Anorak

Posted: 19th, December 2007 | In: Twitterings Comment (1) | Follow the Comments on our RSS feed: RSS 2.0 | TrackBack | Permalink