Northern Rock post 1.4 billion loss

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MPwannadecentincome replied

23 February 2009, 14:41
Originally posted by bobhope View Post

Where is you-know-who for in-depth analysis on this topic?

You mean EO?
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bobhope replied

23 February 2009, 14:39
Where is you-know-who for in-depth analysis on this topic?
Leave a comment:
MPwannadecentincome replied

23 February 2009, 14:37
Originally posted by minestrone View Post

It was there fault, why should the taxpayer pay again.

tax the stupid as well as those without sufficient grasp of basic english grammar especially those who complain about punctuation on other threads.
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Bagpuss replied

23 February 2009, 14:04
Here Here
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TykeMerc replied

23 February 2009, 14:03
Originally posted by minestrone View Post

It was there fault, why should the taxpayer pay again.

Where?
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minestrone replied

23 February 2009, 14:02
Originally posted by Alf W View Post

I think the government should sue all shareholders of Northern Rock to the tune of £1.4bn. Don't see why we should bail them out.

It was there fault, why should the taxpayer pay again.
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MPwannadecentincome replied

23 February 2009, 13:59
Originally posted by Alf W View Post

I think the government should sue all shareholders of Northern Rock to the tune of £1.4bn. Don't see why we should bail them out.

Sue ALL shareholders - so poor Sid bought some shares thinking they'll do well for me pension - has now been robbed of their value and to add insult to injury will have to defend a lawsuit?

Its the former directors you want to sue methinks.
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Mich the Tester replied

23 February 2009, 13:35
Originally posted by Bagpuss View Post

Northern Rock announces £1.4bn loss as it makes return to mortgage market with 90% deals

Is that all? A measly one billion loss? Come on guys, you can do better than that surely. RBS managed 30 billion!
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Alf W replied

23 February 2009, 13:35
I think the government should sue all shareholders of Northern Rock to the tune of £1.4bn. Don't see why we should bail them out.
Leave a comment:
Bagpuss started a topic Northern Rock post 1.4 billion loss

23 February 2009, 13:33
Northern Rock post 1.4 billion loss

Northern Rock announces £1.4bn loss as it makes return to mortgage market with 90% deals

State-run bank in £14bn return to mortgage market
Darling insists its lending will be 'sensible'
Government prepare new £500bn bailout plan

Northern Rock today announced it faces a £1.4billion loss for 2008 as it returned to the mortgage market with loans of up to 90 per cent.
Hours after a dramatic U-turn allowing the state-owned bank to resume lending on a massive scale, it revealed it was facing huge losses for last year.
The £1.4billion figure is almost 10 times its £167.6million loss in 2007 when it was crippled by the freeze in credit markets and the UK's first run on a bank for 140 years.

It is driven by a £900million bad debt charge on its loans, caused by the deepening recession.

Oh Dear, Doesn't look like it was a great business model after all!
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