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Northern Rock gets bank bail out
<dc> don't copy and paste content onto the site unless it's your own.
http://news.bbc.co.uk/1/hi/business/6994099.stm
Northern Rock gets bank bail out
<dc> don't copy and paste content onto the site unless it's your own.
20 minutes in and I'm your first poster, this significant story is getting surprisingly little traction.Originally Posted by Closet leftie
It sounds fairly bad. Perhaps Northern Rock should be called Northern Gravel now?
Private profit for public gain!
Can an Irish institution be far behind?
Hardly, AIB's bad debt provision is very low and unchanged from last year.
Private profit for public gain!
Agree with you Ard Taoiseach, this sounds like dynamite to me!
The FTSE is reshuffling at the moment. Tullow Oil is being admitted to the top flight, will Northern Rock go the other way and get relegated to the Championship level in the FTSE 250?
Private profit for public gain!
"Treasury Select Committee chairman John McFall urged Northern Rock customers not to panic.
"I don't think they should be worried about their current accounts or mortgages," he said.
"The fact that the Bank is willing to act should be reassuring."
There doesn't seem to be any mention of the amount they have had to borrow and if I recall correctly this is not the first time they have been bailed out in the last few weeks...
The government is saying "don't panic"... what would you do?
[quote=Ard-Taoiseach]Hardly, AIB's bad debt provision is very low and unchanged from last year.[/quote:30odjfr5]
Do they run any hedge funds?
This is the second I know about - Barclays was bailed out a week or so ago
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