Friday, November 16, 2007

The Hood retreats to the planet Planck

Northern Rock's chief steps down

"Bloody Hurrah!"

Posted by paul @ 04:11 PM (874 views)
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7 thoughts on “The Hood retreats to the planet Planck

  • Interestingly, the BBC has finally had to come clean that no-one is actually interested in The Crock.

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  • dohousescrashinthewoods says:

    I didn’t think there would be any takers.

    Subtract the debt to the BoE from the purchase price and does it still come out positive?

    They may have to pay someone to take it away. I guess nationalisation is the only option now – or collapse, taking taxpayers’ money with it.

    I’d have liked to be consulted before being made a shareholder.

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  • I am amazed that Applegarth has taken this long to resign; a man who should have put a pistol to his head weeks ago. I hope the Serious Fraud Office will be inspired to investigate this obnoxious liitle toad who trousered £2.3 million not so long ago by selling his NR shares while encouraging his loyal staff to buy them.

    Disgusting man.

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  • The Crock is bust but Applegarth is rich. That’s high finance.

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  • Take a look at the Crock’s balance sheets for the last two years (it can be found on their site). Lending the sort of money that has been lent to the Crock is nothing short of a disgraceful scandal.

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  • Cheekie Charlie says:

    http://newsforums.bbc.co.uk/nol/thread.jspa?sortBy=1&forumID=3828&start=15&tstart=0&edition=1&ttl=20071116213236#paginator

    It is a great shame that Adam Applegarth stepped down today. I suppose it was the most graceful thing to do in the circumstances. Adam was a great young leader of a fantastic company. Adam Applegarth should be proud of what he did for Northern Rock, it is just a shame that the ‘credit crunch’ has happened and he has been penalised for taking risks, which at one time benefited his customers.

    At this moment in time, where our economy is suffering, we need the likes of Sir Richard Branson to step in and sort out this mess. If he can do with banking what he did with trains, we need not worry.

    Andy Wood, Cheshire

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  • Ihopeitgoeswithabang says:

    I think we will find the government of this country was so keen to protect it’s fake economy and name – of which there wasn’t alot to protect – they were willing to pay £30 billion for it.
    It would seem to me that they have used tax payers money to ‘fund’ their own cause.

    Why should a bank be treated any different to any other business model in this country?

    Disgraceful bunch of crooks.

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