In any other country, it would sound absurd: private businesses run the water systems and get to make a fixed amount of profit regulated by Ofwat... whaaat?
20 years after the fall of the USSR, it's weird how one can still feel obliged to say, "This doesn't mean I'm a pinko!" It's like people who argue against censorship on the 'net find themselves needing to say, "That doesn't mean I'm a pedo!" There are knee-jerk assumptions where unless you're totally one way it is assumed that you are completely the other: and not just ideologically pure but sinister.
JuicyJesus wrote: »
It gives Branson a customer base, employees, back office functions, banking systems and a branch network, which are very valuable things. Presumably these will be rebranded as Virgin Money, which will become a full-service bank.
JuicyJesus wrote: »
He's got a bargain.
Egg would have been up his street, one might have thought. N&P would have given him the same sort of stuff as Northern Rock, and current accounts, and a lot cheaper.
TREVORCOLMAN wrote: »
BBC business editor Robert Peston said the sale would see taxpayers end up with a "paper" loss of somewhere between £400m and £650m.
stoneman wrote: »
The people around Newcastle that used to work for NR were given shares as a pension, and also the opportunity to add to it with discounted share options, some had £100,000's invested as their only nest egg, all wiped out and no future to look forward to.
Ratstjohn wrote: »
How nice to know that my mortgage account with the 'bad part' of Northern Rock is part of a 'toxic' organisation! Incidentally, during the mortgage term of 12 years to date, I have never been in arrears. Despite this good payment record, if in future I wish to extend my mortgage term with NRAM, this is no longer an option for me.
twincamms wrote: »
Can someone help me out here? In June 2011 I got notification from my share dealing company that the Government had withdrawn all share rights and that Northern Rock shares were 'extinct', that's the word they used. Six months on the Government sell it to Virgin? So they've stolen all mine (and millions of other peoples) shares, then sold the business on? Is this legal? I'm gob-smacked!
Northern Rock shares plunge 32%
Some customers were queuing outside Northern Rock branches
Shares in one of the UK's largest mortgage lenders, Northern Rock, have fallen 32% after it had to ask the Bank of England for emergency funding.
But experts and officials insist that Northern Rock, which has £113bn in assets, is not in danger of going bust.
Despite the reassurances lines of customers formed outside many Northern Rock branches around the UK.
The bank has struggled to raise money to finance its lending ever since money markets seized up over the summer of 2007
… for the first time in 12 years
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