Wednesday, Nov 28, 2007
A possible way forward
BBC: What happens when banks go bust?
The Northern Rock bank has said it favours an offer from the Virgin consortium as the preferred way out of its deep financial problems.
But if that and any other offers were to fail, then declaring the bank insolvent and bringing in administrators would be a strong alternative solution.
Posted by alan @ 06:23 AM (299 views) Add Comment
2 Comments
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1. Mark said...
gordon approves the directors a large payoff and lends the company tax mone!!!
2. Mr Plumbase said...
Simple, the taxpayer bails them out.