Sunday, Sep 30, 2007
The Future's Not Bright For Northen Rock
This Is Money: Northern Rock facing afterlife as 'zombie'
The stricken mortgage lender could be force to close to new business as profits face being wiped out by interest payments to the Bank of England...
Posted by garyb @ 07:35 PM (395 views) Add Comment
5 Comments
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1. paul said...
And all because of the Bank of England's independent, prudent and wise management of the whole affair.
Keep watching - I wouldn't be surprised if the Bank of England actually does lower the rate. On the other hand, the Mervyn could tell them to change their business model .... nah, silly idea.
2. Brit1234 said...
Let them burn
3. uncle tom said...
"The stricken mortgage lender could be force to close to new business"
- I'm expecting that...
I have a feeling that the Bradford and Bingley's current advertising campaign was cast in stone rather a long time ago - they might have to eat their hat(s)...
4. Rimmer said...
I wouldn't be surprised if Northern Rock became History personally, how can it really turn its fortunes around? all debt and very little light on the horizon
5. Orwell said...
Rimmer,
They won't let it go. The consequences would be catastrophic for the city....
They will sell it to anybody no matter how crooked for a £1 if necessary....