Friday, Oct 12, 2007
BBC still trying hard to drum up interest in Northern Rock look attractive
BBC "News": Virgin eyeing Northern Rock deal
However hard the government's loud-little-lapdog BBC tries, the market still believes the Northern Rock is a Crock. Three previous suitors have looked, stared, shaken their heads and fled, but this is different now, no really it is. As of 12PM today, Northern Wreck has borrowed over £13bn and it's still out offering the same old mortgages like there's no tomorrow at the taxpayers' expense.
Posted by paul @ 03:00 PM (438 views) Add Comment
7 Comments
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1. Joe Le Taxi said...
I don't quite see what your point is here. What's wrong with the BBC effectively reporting that piece of news? What's more why do you say that the mortgages are funded by the tax payer? NR has just borrowed money and will have to repay it. Everybody agrees that its mortgage book is very good. Now that Virgin may take over the group, we can see that the government did the right thing by supporting a good business.
2. Icarus said...
If RB felt like making the odd million or two before lunchtime he would just have to buy NR shares, make this announcement and then flog them after they rose. What a world..
3. stillthinking said...
What happens if nobody wants to buy Northern Rock? The 13bn they have borrowed is printed money, if the BoE doesn't get this money back so it can disappear again presumably we get more inflation than we would otherwise.
4. p. doff said...
Branson to the rescue!!!
5. Ill_handle_it said...
Ah yes, Mr Branson isn't shy when it comes to taking public money. Virgin trains for example. I'm sure he's being looked at as a possible "saviour" of The Wreck not least because he'll keep his mouth shut when needed.
6. The Day Will Come said...
branson this, branson that.
him and the great owners of teco's should get together and just own everything that exists lol
7. ck one said...
We love old Richard don't we, he is just a shinning white knight who loves to help in a crisis because he is so nice...
2 rules to remember:- Never trust a hippy (ex or otherwise) in otherwords Mr Branson and never trust a Christian with a Guitar in other words Mr Blair... I wonder if Gordo's got a strat in the loft!