Why should the taxpayer be bailing-out Northern Rock?

[sappatz]

Nr

they are afraid of a UK banking system collapse, thats why they are bailing them out ! (for a central banker, queues in front of banks are nightmare)
queues in front of banks in UK like this didnt happen since 1973 or even 1929

[King Cnvt]

http://news.bbc.co.uk/1/hi/business/7002628.stm

BoE injecting another £10bn of money into the markets and accepting sub-prime derived mortgages as collateral.

Oh Dear ™ ?

[DBA_bloke]

http://news.bbc.co.uk/1/hi/business/7002628.stm

BoE injecting another £10bn of money into the markets and accepting sub-prime derived mortgages as collateral.

Oh Dear ™ ?

I suspect that a country can play around with seemingly poo "collateral" like Sub-Prime shares, as countries deal in decades, as well as in the now. One day, those poo stocks & shares in Sub-Prime will be worth more. It's the high street lot that can't afford to do this sort of thing. I think... but then, how the fook would I know?

[sappatz]

blair

http://news.bbc.co.uk/1/hi/business/7002628.stm

BoE injecting another £10bn of money into the markets and accepting sub-prime derived mortgages as collateral.

Oh Dear ™ ?

indeed
the taxpayer will be paying Tony blair reckless management of this country. the guy has now left and is leaving the mess to sort out for the following.

[AlfredJPruffock]

Not more sleaze, surely?

On behalf of the NL Government I would lile to categorically deny any allegations of sleaze - besides - that was then - this is now.

[Hevra]

On behalf of the NL Government I would lile to categorically deny any allegations of sleaze - besides - that was then - this is now.

Must lrn2read, I was confused as to why the Dutch government would be sticking their oar in...

Hevra

[wendigo100]

Must lrn2read, I was confused as to why the Dutch government would be sticking their oar in...

Hevra

Tulips. Another fine mess that was!

[Sysman]

Yes they do, they'd just print more. If every bank needed bailing out they'd have a lot more to worry about than a touch of inflation.

Wheelbarrows. Lovely nice wheelbarrows. Come and get 'em.

(Plan B is looking good)

[Sysman]

Being a complete financial tit, I have no idea if that's stupid, or clever. So, I'll draw all my money out of my accounts now, to be safe. If the Great British public hear of such an idea, there'll be another run, or something.

Let's just suppose that everything does go tits up, and there's a run on all the banks, and then the pound too.

It wpuld give the government the perfect excuse to go for the Euro. All that mattress money would have to be exchanged at whatever rate is deemed suitable, or become worthless.

[Sysman]

One approach would be to dissolve all Banks and Building societies in the UK ( to all extents and purposes they are a cartel ) and instead have only one Central Government Bank - each bank account would then be indexed by your National Insurance Number.

Which is the worse crime - to rob a bank - or to own one ?

Brecht The Threepenny Opera

The side effect being that the gubmint is now your mortgagee.

Noun 1. mortgage holder - the person who accepts a mortgage; "the bank became our mortgagee when it accepted our mortgage on our new home"