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SarahBell

Northern Rock To Be Sold

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The auction of Northern Rock is expected to raise about £1bn, which is less than the £1.4bn the government injected into the bank, although not all of it is to be sold.

Listened to R4 - Mr Darling was on - who used to have his mortgage with Northern Rock. I assume from his embarrased muttering that he has paid off his mortgage and didn't want to say thank you to the tax payers who enabled him to do so.

http://www.bbc.co.uk/news/business-13783724

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Yes, who's actually in a position to buy NR? Another bank that's already been bailed out by the UK government?

Am i being pessimistic to think that this is more obfuscation by the UK government?

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Yes, who's actually in a position to buy NR? Another bank that's already been bailed out by the UK government?

Am i being pessimistic to think that this is more obfuscation by the UK government?

...no I gather they are looking for more competition between the banks so want a new buyer....but they still expect to make profits from the existing loans....what would be interesting to know is what is in it for the new purchaser? ;)

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Haha do we even have competing banks anymore? Do they need to compete? What with the cushion of the tax payer and their ability to printeh printeh credit at will...

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For sale - one bucket of shit, ex the shit, so basically a bucket, in which to pour more taxpayer money (directly or indirectly). Also £1.4bn is not the cost of keeping this crappy little lender bender in the style in which it has been accustomed.

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  • 311 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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