The government f**ked up

They should have nationalised them from the start instead of pumping in about 50 billion to prop up an effectively bust company. The share price collapsed back then and Northern Wreck were effectively worthless as they are now. The government dithered and it remains to be seen how much - if anything - the tax payer ever gets back.

The shareholders can go f**k themselves - they were quite happy to let NR to get themselves into deep s**t (borrowing short term to lend long term was always going to be an unsustainable business model). Haven't seen the latest, but I imagine one of those whining is a hedge fund (or was it venture capitalists? I forget) who invested heavily when NR first started going down the tubes in the hope, I guess, that the government would keep pumping in tax payers money without nationalising. Well, tough s**t.

Posted By: BerlinCanary on March 31st 2008 at 16:48:58

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
- 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
  - 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
- maybe that gambler chap stood a chance suing william hill (n/m) (General Chat) - pants, Mar 31, 15:53:24

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