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Northern Rock - News Conference @ 11oclock

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.................and as we go live to the hastily called press conference by Northern Rock

NR PR Rep : Thank you for coming ladies and gentlemen of the press. We have called this meeting to announce we are f!cked; and before you ask no you can't have your deposits back.

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More like to say there is no problem and that all is well and that we are still open for business... this is just a blip.

I suspect that this is the most likely reason. If its anything more than that............................then its over..

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One quote on the BBC makes me think Northern rock deserves to be bankrupted the irresponsible ba^tards

"It became famous for its mortgages with 130% loans to the value of the property that helped thousands of first-time buyers on to the property market."

130% WTF..........

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Perhaps they've arranged a take-over

Pauline McColl on R5 just fielded a suggestion/rumour that Banco Santander had been sniffin' round their backdoor, looking to bag them up with the Abbey.

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More like to say there is no problem and that all is well and that we are still open for business... this is just a blip.

If they really expect the financial world to believe that rubbish they live in Cloud-cuckoo-land! I just can't see them operating as an 'independent' bank anymore. Get ready for a quick take-over.

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.................and as we go live to the hastily called press conference by Northern Rock

NR PR Rep : Thank you for coming ladies and gentlemen of the press. We have called this meeting to announce we are f!cked; and before you ask no you can't have your deposits back.

brilliant :lol::lol::lol:

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Pauline McColl on R5 just fielded a suggestion/rumour that Banco Santander had been sniffin' round their backdoor, looking to bag them up with the Abbey.

BBC News 24 interview with CEO now. Pictures of elderly queing to get their cash out. Not denying a possible take-over. He isn't re-assuring me at all. He hasn't asked people not to withdraw cash. He is basically saying "that's their right to do so, its business as usual".

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"It became famous for its mortgages with 130% loans to the value of the property that helped thousands of first-time buyers on to the property market."

130% WTF..........

Thats an epitaph if ever I have seen one..

I can see "mortgages available.. only to those who have deposits of 25% or more..."

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Guy on BBC - dont know who he was, said the NR problem is not a matter of funding, its a matter of credit, or was it the other way round, anyway, doesnt matter which way round it is they are both the same- comeon BBC get some educated people on the screen

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The CEO of NR is being interviewed on News 24 now "no one could have foreseen this..."

Also images of pensioners queing outside branches..

Accidentally switched over to BBC1 - "homes under the hammer" is on! It will be "banks under the hammer" soon! :blink:

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