Brown responsible for crisis !!

[Menelaus]

I brought Northern Rock shares after the Government guaranteed they would not let the bank go under (for a long term investment)

What irritates me is that the law was changed by the Government to not pay compensation. Personally I wrote the shares off as a bad luck and made a mental note never to vote labour

What I don't understand is what will happen when they re-float Northern Rock which is inevitable as they have been repaying their debts more quickly than expected and I believe owe a lot less than the likes of RBS or Lloyds.

I can see why this guy is unhappy but nobody could say he isn't looking after himself, although I hope he wins because I may benefit!

The NR share price will drop through the floor and there'll be another run on it by depositors whose money had gone from being government guaranteed and subject to AAA rating (via UK sovereign rating).

Northern Crock will die the death of a thousand cuts, I'm afraid. I find myself wondering however - if NR hadn't been in a Labour heartland (Geordieville) do we think that ZanuLab would've been so keen to save it...?

[AtW]

I brought Northern Rock shares after the Government guaranteed they would not let the bank go under (for a long term investment)

No - Govt only guaranteed that depositors won't lose out, that's a bit different from offering buy back of NR shares at any time!

Anyone who put money into NR after it was clear they were involvent deserve to look every penny of it, especially so given what NL did to Railtrack.

[GardenGirl]

I brought Northern Rock shares after the Government guaranteed they would not let the bank go under (for a long term investment)

What irritates me is that the law was changed by the Government to not pay compensation. Personally I wrote the shares off as a bad luck and made a mental note never to vote labour

What I don't understand is what will happen when they re-float Northern Rock which is inevitable as they have been repaying their debts more quickly than expected and I believe owe a lot less than the likes of RBS or Lloyds.

I can see why this guy is unhappy but nobody could say he isn't looking after himself, although I hope he wins because I may benefit!

[expat]

The truth is finally coming out !!

http://www.telegraph.co.uk/finance/f...hern-Rock.html

The truth about a Labour government is coming out of a hedge fund manager in the Telegraph??? You are sad.

[AtW]

Well of course - all from of gambling are subject to taxation in the UK .

No, gambling income is actually free of time - completely perverse attitude.

is a mere trifle compared to the vast amounts they have now received as Welfare/Bailout fomr the Government - ie Taxpayer.

Of course that's the case - which is why Nu Liebor Govt should be put in the Tower for the next 50 years, it might not be attractive to the foreign tourists however I am sure UK nationals willing to pay some cash to see Brown, Blair et al in the Tower would bring sizeable revenues!

[AlfredJPruffock]

No, but they took their cut from City gamblers when things were going on the up.

Regulation in the City was the least strict from large trading points, which is why a shredload of dodgy Russian companies floated on LSE: they could not do so in USA because they'd get questions asked that nobody did here.

Well of course - all forms of gambling are subject to taxation in the UK .

The revenues that the Govenrment made (and remember these Cityguys paid top-dollar for wizard accountants to reduce their tax anyway) is a mere trifle compared to the vast amounts they have now received as Welfare/Bailout from the Government - ie Taxpayer.

[AtW]

Actually number of Russians on proper work visas (like I was) is pretty low - in my time when total number of issues work permit was around 60k I think Russians were like 500 or so, this leaves a maximum of 499 of them being dodgy...

[Troll]

Visa regulation in the UK was the least strict, which is why a shedload of dodgy Russian emigrants ended up here: they could not do so to other countries because they'd get questions asked that nobody did here.

[AlfredJPruffock]

No, it's what the Prime Minister thinks that counts - otherwise electorate does not get a say in elections...

It is fiortunate for the Leaders that the people cannot think.

A Hitler.

[AtW]

It is what the electorate think that counts.

No, it's what the Prime Minister thinks that counts - otherwise electorate does not get a say in elections...

[BrilloPad]

It does not matter what the Telegraph thinks. It is what the electorate think that counts.

[AtW]

the Casino Capitalism Crash- NL did not create CDS the sub-prime market

No, but they took their cut from City gamblers when things were going on the up.

Regulation in the City was the least strict from large trading points, which is why a shredload of dodgy Russian companies floated on LSE: they could not do so in USA because they'd get questions asked that nobody did here.

[AlfredJPruffock]

Interesting article.

Perhaps more damaging than losing the money for Mr Wood – a star trader who split from his employer, Swiss bank UBS, to set up his own fund in 2006 – is that his judgement appears to have been flawed.

Yep that line about sums it for me.

Try as he might to convince you - and lthe poor laddie looks like hes lost his shirt in the Casino Capitalism Crash- NL did not create CDS the sub-prime market not did they push trhough the de-regulation that created the crises - which was from the USA.

[AtW]

That guy runs hedge fund.

[Cyberman]

The truth is finally coming out !!

http://www.telegraph.co.uk/finance/f...hern-Rock.html