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, Mar 31, 16:48:58