Monday, Nov 19, 2007
Darling on the Rack over the Rock
In The News: Darling defends Rock decisions
Rock now has government backed loans totalling 24BN Pounds yet its share price falls 21% further today as Darling insists that the lending was all guaranteed against "quality assets" including mortgages!
Posted by enuii @ 05:10 PM (937 views) Add Comment
15 Comments
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1. the northerner living in oz said...
dream on Darling
2. denzil said...
I think Darling will eventually lose his job over this. Any buyer of NR will have to cover the loans of £24bn. To my way of thinking, and I've read little to make me think otherwise, NR is simply worth nothing like that amount of money, not even close. Mervyn King was pressurised by the Government into making the loan which I've read is £960 for every tax payer in the country.
It's simply outrageous!
3. paul said...
Now it is projected that the Crock will need 30bn by next February. A little on the ... low side don't you think? Are they really going to tighten their belts between now and then. Still, it's not as if they have any customers to deal with anymore!!!
4. the northerner living in oz said...
If the name of the bank and the country were removed from this report
I would have guessed that it was Brazil or some third world country
And the U.K is supposed to be the finance centre for the western world.
If your figure is 960 pounds for ever taxpayer is correct it is not good
What I find worrying is this figure look likely to increase
5. enuii said...
What I find alarming is that the government can find the money to prop up class A sh1te like the Rock whilst cutting the budgets of defra who deal with the likes of H5N1, foot'n'mouth, blue tongue etc as well as scientific research, nuclear decomissioning work and the MOD.
Disgusting.
6. sovietuk said...
NR are a victim of the house price insanity actively encouraged by the low interest rates of recent years and whose policy was that? The fall out from this scandal seems to be generating more and more interest by the day. The victims of this fall out at a political level deserve everything that is coming to them. They created a nonsense fictious economy based on house price equity and continued to knock as many nails in the coffin of real industries as they could.
7. uncle tom said...
Darling is complete dipstick - he must surely be on course to be one of the shortest serving chancellers ever..
8. planning4acrash said...
The replacement for our Trident nuclear deterrent won't cost this much!!!!!!!!!!!!!!!!!!!!!!!!!!
9. Ihopeitgoeswithabang said...
Quite the juggler isnt he.
Whats all that crap about being denied by the courts the right to see leaked documents on NR talks/sale.
£20 + billion investment in the company and we cant even get to see a few notes.
I think maybe some people have forgotten what the term 'public money' actually means.
10. handle_it said...
Does anyone have a estimated figure on the NR's bad debt ? Or more to the point how much is good ? I'm guessing that all the juicy stuff will be sold off and the sub prime left will the British tax payer ?
11. Matt_the_hat said...
What I want to know is where has this money come from, £900+ each? Has the government just let the printing presses go crazy, if so forget about 2% inflation!!
12. uncle tom said...
As an aside - have a look at Paragon's share price today - down a whopping 40% today, and only 20% of its value at the start of the year...
13. denzil said...
Paragon shares have been suspended. Absolutely tanking.
14. inbreda said...
Do you think the idiots had a meeting and maade a list of budget expenditure priorities :
Illegal war in Iraq/afghanistan to impress bush £XXXXXXXXXXXX
Making Adam "The Hood" Applegarth extremely rich £XXXXXXXXXXX
Millenium dome, Olympics, and other pointless follies £XXXXXXXXXXXX
Building more nuclear weapons £XXXXXXXXXXXXXXXX
Supporting manufacturing. £0
Bettering the NHS and education £0
Stopping global warming £0 - lip service only
15. the northerner living in oz said...
The problem is the peaple at the top have been so busy making them selfs & there freinds rich
they forgot to do what they were employed to do
run the country.