HBOS may require Central Bank funding

[Cyberman]

It would be a different story had it been left to go to the wall. However, the Gov't because of the incomptence shown by Brown/Darling/BoE/FSA and the repercussions that would cause, stepped in to its rescue. As with any nationalisation, the Gov't has to provide compensation to its rightful owners. They did that in the old days with British Rail and with the National Coal Board. They also did that when they took over Railtrack from the private sector. Eventually it's a case of how much, NOT IF they cough up.
Another disgraceful chapter in the mismanagement of the economy by Zanu-NL (as someone here called them)

Railtrack shareholders actually took HMG to the High Court because the government initially refused compensation after manipulating it into bankruptcy. They won 2.50 pounds a share. Northern Rock are probably going a step further to the European Court of Human Rights for approx 4-5 pounds a share.

[BrilloPad]

Railtrack shareholders actually took HMG to the High Court because the government initially refused compensation after manipulating it into bankruptcy. They won 2.50 pounds a share. Northern Rock are probably going a step further to the European Court of Human Rights for approx 4-5 pounds a share.

How many shares were there? how much would £5 per share cost the taxpayer?

[Cyberman]

How many shares were there? how much would £5 per share cost the taxpayer?

Bearing in mind that New Lie will probably float Northern Rock at a fiver a share just before the election (which I firmly believe was their ulterior motive in nationalising the company and thus stealing it from the shareholders), there will be no net cost to the taxpayer.

[Cyberman]

It would be a different story had it been left to go to the wall. However, the Gov't because of the incomptence shown by Brown/Darling/BoE/FSA and the repercussions that would cause, stepped in to its rescue. As with any nationalisation, the Gov't has to provide compensation to its rightful owners. They did that in the old days with British Rail and with the National Coal Board. They also did that when they took over Railtrack from the private sector. Eventually it's a case of how much, NOT IF they cough up.
Another disgraceful chapter in the mismanagement of the economy by Zanu-NL (as someone here called them)

http://www.ft.com/cms/s/0/71aeb98a-0...0779fd2ac.html

Here we go!! An announcement will be made today of at least 50 Billion pounds being lent to the liquidity-strapped banks, against equity. This will show the massive hypocrisy that there was during the problems with Northern Rock who only had the misfortune to be the first bank to go to the BofE for a LOAN against its mortgage book.
Who remembers the media lies about taxpayers each paying 2,000 pounds to bail out the ROCK, when in fact the funds were purely loans, the same as is being announced by Darling today !!??

[Churchill]

http://www.ft.com/cms/s/0/71aeb98a-0...0779fd2ac.html

Here we go!! An announcement will be made today of at least 50 Billion pounds being lent to the liquidity-strapped banks, against equity. This will show the massive hypocrisy that there was during the problems with Northern Rock who only had the misfortune to be the first bank to go to the BofE for a LOAN against its mortgage book.
Who remembers the media lies about taxpayers each paying 2,000 pounds to bail out the ROCK, when in fact the funds were purely loans, the same as is being announced by Darling today !!??

Remember, it's only a loan if there's the remotest possibility of it being paid back.

[Cyberman]

Remember, it's only a loan if there's the remotest possibility of it being paid back.

You can apply that reasoning to the heavily sub-prime indebted banks that are getting the loans today. Northern Rock had a good quality 100 billion pound mortgage book and negligible subprime debt at the time of nationalisation and had already paid back 3 billion pounds and there was never any danger of loans not being repaid. In fact, reports only last month stated that the loans are very likely to be repaid in full, plus interest by the end of 2009!!

In addition, over 10 billion pounds of the money owed by Northern Rock was due to the BofE/BBC instigated bank run due to malicious rumours.