Tuesday, Jan 15, 2008
Essential support from the Bank of Bailouts
MortgageStrategy: Northern Rock completely reliant on £25bn BoE loan
Northern Rock’s chairman has revealed the bank has become completely reliant on the Bank of England and the Treasury to continue to trade.
Posted by jack c @ 01:49 PM (451 views) Add Comment
3 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. tyrellcorporation said...
So much for shareholders whining about not having much of a say in it's future - the bank is bankrupt, their holdings are worthless.
2. jack c said...
@tyrell - spot on
“Speaking at the bank’s EGM with shareholders, Bryan Sanderson revealed we have £100bn in assets and liabilities, so managing these is extremely complex.”
3. Baudot said...
So that's £100bn in assets and liabilities. Let's hope the assets exceed the liabilities by at least £26bn.
.
Cynically I suspect the directors are spending their last few months shovelling cash out in bonuses and covering their posteriers.