Northern Rock

ANGLICANPAT

Wouldnt surprise me in the least to see this quote from the Standard, sending people into queue mode again to retrieve their money rather than have it safe but frozen for god knows how long and surely administration is still a possibility?


"However, the only alternative is administration - and that is every bit as ugly, even if in crude business terms it looks the logical thing to happen. But even administration is complicated because the act of administration would immediately freeze all the assets - making it impossible even for account holders to withdraw their money unless the Government renewed its promise to cover any withdrawals"

codger

harryhound wrote: »

Surely Labour with Railtrack?

Harryhound: you're spot on (as ever).

Great links, by the way: without the second 'un, I'd have had a hard time following the first.

And yes, re your earlier post, it looks like a truly wunnerful political production is now about to take the stage.

But is Cameron really that big an idiot? I know the Conservatives will forever be (well, to me, at any rate) the party who voted against the Minimum Wage, but has their collective grasp of economics weakened to such extent that there's now a danger they'll begin to make New Labour look competent?

Hell's bells. What a prospect.

caveat_emptor

Can anyone explain what the attraction is in having a Chief Executive who was an executive director on the old NR board and who was party its failure?
All the directors were voted in with almost identical number of votes and majorities so he has, apparently, same credibility as the other directors.

codger

A pity Mr Darling can't now nationalise the assets of Mr Applegarth.

The guy's two (possibly more) Ferraris and £multimillion country estate might not raise much for the public purse but better than a kick up the bum.

Now that the banking sector is back in the headlines again, Radio 4 this morning referred to the prospect of intervention in London & Scottish.

W h a t????

My Gawd, no way, Jose. Operator of Robinson Way, one of the most objectionable debt collection outfits around, Manchester-based London & Scottish exists to profit from the most vulnerable in society.

Calling it a "bank" might be technically accurate but that's as far as it goes. 'Rescuing' it ought to be unthinkable.