There but for the grace of God...

[Bob Dalek]

Ok give us a lesson on the brilliance of the Northern Rock business model.....

It was, in and of itself, a good model and worked fine until the OTHER institutions dropped the ball with sub prime. The fact that until Gordo & Mr. Weird Eyebrows put the mockers on it, Branson et al were bidding for NR does, I suggest, show that it was a decent business. HM Gov's "bail-out", of course, has tarnished NR's previous good standing in the minds of many. Shame, because it was a company that helped many and did nothing "wrong", as such.

HTH

[Cyberman]

Ok give us a lesson on the brilliance of the Northern Rock business model.....

The business model was no diffefrent to any other bank except that the Rock did not invest in US Subprime.

The business model was not the reason for failure which history has proved. Every other bank has had the same problems with the moneymarkets drying up, even HSBC, which has more deposits than loans.

Rock shareholders thus have a very good case for compensation...... let's see what happens in court in January.

[Bagpuss]

It was, in and of itself, a good model and worked fine until the OTHER institutions dropped the ball with sub prime. The fact that until Gordo & Mr. Weird Eyebrows put the mockers on it, Branson et al were bidding for NR does, I suggest, show that it was a decent business. HM Gov's "bail-out", of course, has tarnished NR's previous good standing in the minds of many. Shame, because it was a company that helped many and did nothing "wrong", as such.

HTH

You are joking right?
It would have bust sooner or later, 125 % mortgages in a failing market
The previous board under investigation

Branson only wanted the savings book at a knocked down price.

The business model was no diffefrent to any other bank except that the Rock did not invest in US Subprime.

Maybe not, but over exposed to UK subprime, that little ticking timebomb.

The business model was not the reason for failure which history has proved. Every other bank has had the same problems with the moneymarkets drying up, even HSBC, which has more deposits than loans.

They were too reliant on the money markets as a ratio to deposits.
Any fool can see 125% self certs to bad credit risks, borrowing heavily on the money markets to fund.. is not the wisest way to operate.

[Bob Dalek]

You are joking right?
It would have bust sooner or later, 125 % mortgages in a failing market
The previous board under investigation

Branson only wanted the savings book at a knocked down price.

Why would it have bust?

[Bagpuss]

Why would it have bust?

Because it was heavily reliant on the money markets?

[Cyberman]

Because it was heavily reliant on the money markets?

Just about all of the other UK banks would have gone bust within weeks because of the dead moneymarkets but for HMG intervention. You are seriously naive!!

[Bob Dalek]

Because it was heavily reliant on the money markets?

Which were all fine until some dorks decided to lend to hillbillies with no job and no skills, etc. And that's what's led to EVERY bank suffering, not just NR. Difference is that NR has a great big stock of property to point to and say, "There, THERE'S our backing. The other banks/lenders have nothing like.

[Bagpuss]

Which were all fine until some dorks decided to lend to hillbillies with no job and no skills, etc. And that's what's led to EVERY bank suffering, not just NR. Difference is that NR has a great big stock of property to point to and say, "There, THERE'S our backing. The other banks/lenders have nothing like.

NR were doing the same in the UK, lending to subprime BTL etc. Sooner or later they would have gone bust, run or no run.

[Cyberman]

NR were doing the same in the UK, lending to subprime BTL etc. Sooner or later they would have gone bust, run or no run.

.....but that was not there reasons for failure LAST YEAR. You are hopeless.

[Cyberman]

their