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.
December 19th, 2007 at 9:37 pm
The FSA are a little late with their advice to banks to be more prudent with their lending!!!!!!
Why is it that the British will borrow way beyond their means to get on the property ladder, most of the populace of other Countries are happy to rent.
This is an absolute disgrace and shame on the Banks &FSA, Northern Rock should have been
allowed to go to the wall, why should the taxpayer pick up the tab? When Barings went
bust nobody jumped to their rescue.