Sunday, Nov 25, 2007
Meanwhile the BBC is claiming that Virgin will "snap up" Northern Crock
Rober Peston's blog and BBC "News": Virgin is preferred Rock bidder
Another example of the heavily pro-property-porn BBC trying to create a story of little substance. None of the major shareholders have accepted the Virgin bid, but the BBC proclaims it a foregone conclusion.
Posted by paul @ 07:00 PM (426 views) Add Comment
4 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. alan said...
I agree with the sentiment, Paul.
The only reason for this type of article is to compete with "Take a Break".
2. dohousescrashinthewoods said...
So, if Gordon's left hand is firmly enconced in the rectal passage of his comedy puppet chancellor and his right hand is up the jaxie of state-controlled media, he's going to have a job catching terorists, never mind auto-stimulating his record on satbility..
3. paul said...
The BBC have changed their headline.
In the age old equivalent of the journalism backtrack, the BBC have used the power of the Internet to edit their own headlines. They must love the flexibility that the online medium offers, allowing them to basically rewrite what they wrote a hour ago.
Now the headline reads "Virgin poised to take over Northern Rock." God they are desperate.
4. George Sore Ass said...
Did you not notice the most interesting part at the bottom that if shareholders did not accept a deal, the bank would quite likely be wound up under insolvency procedures? When the run on the bank started we were told it was quite unnecessary for people to panic, the bank's problems were temporary cashflow, assets more than covered liabilities and there was absolutely no danger of it going bust. But insolvency is for companies whose liabilities exceed their assets so this must mean that even if NR sold every asset (mortgage book, etc.) it could still not cover it's liabilities.
Seems the government and NR misled savers. The bank is on the verge of bankruptcy.