Northern Rock nationalizing

[devolution]

They say it's only days away... Wonder what effect this will have on the economy/business in general...

http://www.guardian.co.uk/business/2008/jan/14/northernrock.creditcrunch1

 

[devolution]

More news...

http://news.bbc.co.uk/1/hi/business/7190726.stm

 

[retired_member6]

let it go bust.

 

[GreyWing]

Not the first time they have done it, anyone remember Railtrack

The shareholders know the risks when they invest, same as me when I go on betfair, can't complain when I lose.

They should nationalise and then liquidise.

But they are too scared to put 6000 Geordie's out of work, and that is what it has always been about.

 

[devolution]

If they let it go bust, then 10% of the economy will vanish (they have 100bn on their books - GDP of UK is about 1,428bn), which means big-time recession for years...

 

[retired_member6]

If they let it go bust, then 10% of the economy will vanish (they have 100bn on their books - GDP of UK is about 1,428bn), which means big-time recession for years...

Rule number two, don't let one company hold 10% of a country's assets.

 

[matmat is verified member.]

We will be using £20 notes to fuel our log fires soon

 

[retired_member6]

We will be using £20 notes to fuel our log fires soon

i wish I could understand money markets, when i moved here in march, 500 euros equalled £340 equalled 1500 Romanian lei, now 1500 romanian lei equals £340 but 500 euros equals 1850 lei and because rent here is in euros and paid in lei, that's £378. My rents gone up in pounds... I dont get it.

 

[richardys]

If they let it go bust, then 10% of the economy will vanish (they have 100bn on their books - GDP of UK is about 1,428bn), which means big-time recession for years...

That not entirely true, if they went to administration their assets would be sold on. No doubt at full price too as any bank would like to have those mortgage customers. The staff is the biggest problem.