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Catch22

Mervin King Makes An Example Of Nr

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I reckon Mervin King has served notice on the banking industry. He and the government knew all along NR would not survive. The life line was so the grey vote could get their money out. But more so to stop runs on all banks, but at the same time serving notice on the industry.

Well Done Merv.

Higher mortgage rates, bigger deposits put down, housing speculation has been dealt a death blow it cannot recover from IMHO.

Edited by Catch22

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I thought the government might engineer a situation in which

The loan book gets split up and sold off

The depositors get their money back

The government get their money back

Northern Rock is Shut down

The investors get nothing

This way they can demonstrate their tough stance against reckless lending with minimal loss to the public (except employees unfortunately)

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I thought the government might engineer a situation in which

The loan book gets split up and sold off

The depositors get their money back

The government get their money back

Northern Rock is Shut down

The investors get nothing

This way they can demonstrate their tough stance against reckless lending with minimal loss to the public (except employees unfortunately)

And NR deposits get spread around the rest of an industry short on cash....as Tesco's say ...every little helps.

Edited by Catch22

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