is the right answer
The deals on the table were not good enough, apparently.
All would have involved lots of redundancies, and an acceptance that the £24 billion would take years (read never) be able to be repaid.
The BoE HAD to bail out the bank. No other bank wanted to touch it, so it had no other choice - except of course let it go tits up....and it was the UK's fifth largest lender, so that wasn't going to happen.
Posted By: Stoopish on March 31st 2008 at 16:07:28
Message Thread
- The Whole Northern Rock debacle..... (General Chat) - romayellow, Mar 31, 15:52:29
- The government fucked up (General Chat) - BerlinCanary, Mar 31, 16:48:58
- joggy (n/m) (General Chat) - JOGGY, Mar 31, 16:46:21
- Agree (n/m) (General Chat) - yarmyyarmy, Mar 31, 16:47:29
- pants (n/m) (General Chat) - pants, Mar 31, 16:47:10
- blindasabat (n/m) (General Chat) - blindasabat, Mar 31, 16:47:46
- Small (n/m) (General Chat) - Small, Mar 31, 16:48:46
- Brom (n/m) (General Chat) - Brom, Mar 31, 16:49:09
- Fierce Panda (n/m) (General Chat) - Fierce Panda, Mar 31, 17:11:47
- Brom (n/m) (General Chat) - Brom, Mar 31, 16:49:09
- Small (n/m) (General Chat) - Small, Mar 31, 16:48:46
- blindasabat (n/m) (General Chat) - blindasabat, Mar 31, 16:47:46
- there has been no real benefit to the shareholders. It's NR are currently trading.. (General Chat) - Dirty Delia, Mar 31, 16:29:22
- Simple...... (General Chat) - Johnny Comecardiff, Mar 31, 15:59:16
- Seemed happy enough when (General Chat) - romayellow, Mar 31, 16:08:55
- and an interesting one too (General Chat) - Stoopish, Mar 31, 16:11:12
- Another load of money down the pan? (General Chat) - romayellow, Mar 31, 16:16:47
- and an interesting one too (General Chat) - Stoopish, Mar 31, 16:11:12
- is the right answer (General Chat) - Stoopish, Mar 31, 16:07:28
- Didn't Lloyds Bank come in with an offer? (General Chat) - KentonCanary, Mar 31, 16:53:08
- Oh, you might be right about Lloyds (General Chat) - BerlinCanary, Mar 31, 16:55:34
- The only real deal on the table was Branson's (General Chat) - BerlinCanary, Mar 31, 16:53:06
- And from what I have read about the Branson Offer (General Chat) - KentonCanary, Mar 31, 16:57:58
- Didn't Lloyds Bank come in with an offer? (General Chat) - KentonCanary, Mar 31, 16:53:08
- Seemed happy enough when (General Chat) - romayellow, Mar 31, 16:08:55
- maybe that gambler chap stood a chance suing william hill (n/m) (General Chat) - pants, Mar 31, 15:53:24
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