Friday, Oct 19, 2007
Doh! Someone put this lame company out of it's misery!
Telegraph: Rock calls on extra £3bn crisis funding
Northern Rock tapped the Bank of England for a further £3bn this month, taking the total amount of emergency funding it has drawn to £16bn.
Analysts believe the troubled lender will access at least another £5bn before the end of the year after the Bank revealed that Lloyds TSB had last month demanded £30bn to cover Northern Rock's obligations as a condition of a rescue takeover.
Posted by tyrellcorporation @ 09:09 AM (251 views) Add Comment
2 Comments
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1. iguana said...
I have no idea how to run a bank with no money either, I hereby apply to the BOE for a £29bn loan to cover my costs and obligations before I also resign as a failure. I will cost £1bn less and I assure all shareholders that my salary will not be all that astronomically high.
All those in favour?
2. wiltshire said...
Well, I'm on board - but subject to my usual 50k an hour 'Non Executive Director' package - per-lease!