The Rock WAS victimised

[Cyberman]

But it wasn't a going concern.

It was stone broke and if HMG hadn't stepped in, it would have gone to the wall by the end of the week

tim

Agreed if HMG/BofE had not given a loan, but they did, so it was a going concern and still is. If the loan had not been given and The Rock went into administration then that is obviously a different scenario, but that did not happen. Understand now ?

[BrilloPad]

At the risk of repeating myself........... ALL banks borrow on the money markets because money is the raw material of lending. If banks could not borrow we would not have had a boom time over the past decade. Borrowing does not make a bank go bankrupt. Twerp !!

banks do a combination between client deposits and money markets : any who rely almost exclusively on money markets were doomed. not good risk practice to put all eggs in 1 basket.

[TykeMerc]

Agreed if HMG/BofE had not given a loan, but they did, so it was a going concern and still is. If the loan had not been given and The Rock went into administration then that is obviously a different scenario, but that did not happen. Understand now ?

So you admit that without a special intervention by the Government Northern Rock was bankrupt, unable to meet its obligations and would have collapsed without trace. By any reasonable measure it was worthless apart from its saleable assets.
The assets of a bank are its investments and let's face it it's no secret that much of NR's asset base was in high risk investments that have plunged in value when they were betting on them increasing.

I can't see how you or the other speculators (shareholders) in Northern Rock should be owed a penny, in the event that any other business fails the shareholders don't get a payout if the companies liabilities exceed the realisable value of its assets.

When you buy shares you are risking your money, you risked yours on NR shares and you LOST, suck it up STFU about it and stop whining. You bet, you lost tough excrement.

[BrilloPad]

I very much look forward to the judicial review, where the grin will be wiped off your obnoxious little face.

So you admit that without a special intervention by the Government Northern Rock was bankrupt, unable to meet its obligations and would have collapsed without trace. By any reasonable measure it was worthless apart from its saleable assets.
The assets of a bank are its investments and let's face it it's no secret that much of NR's asset base was in high risk investments that have plunged in value when they were betting on them increasing.

I can't see how you or the other speculators (shareholders) in Northern Rock should be owed a penny, in the event that any other business fails the shareholders don't get a payout if the companies liabilities exceed the realisable value of its assets.

When you buy shares you are risking your money, you risked yours on NR shares and you LOST, suck it up STFU about it and stop whining. You bet, you lost tough excrement.

I feel that we should wish cyberman all the best with getting compensation as cuk should be a supporting forum. As we all wish atw the best with SKA. Though I hope cyberman is not the barrister as the arguments put forward so far are weak : I still wish him the very best of luck.