Blog Flux Directory Subscribe in NewsGator Online Subscribe with Bloglines http://www.wikio.com Blog directory
And, yes, I DO take it personally: Holy crap! The UK is nationalising the Northern Rock bank!
Mandy: Great blog!
Mark: Thanks to all the contributors on this blog. When I want to get information on the events that really matter, I come here.
Penny: I'm glad I found your blog (from a comment on Think Progress), it's comprehensive and very insightful.
Eric: Nice site....I enjoyed it and will be back.
nora kelly: I enjoy your site. Keep it up! I particularly like your insights on Latin America.
Alison: Loquacious as ever with a touch of elegance -- & right on target as usual!
"Everybody's worried about stopping terrorism. Well, there's a really easy way: stop participating in it."
- Noam Chomsky
Send tips and other comments to: profmarcus2010@yahoo.com /* ---- overrides for post page ---- */ .post { padding: 0; border: none; }

Sunday, February 17, 2008

Holy crap! The UK is nationalising the Northern Rock bank!



for the UK to be making a move like this, things have GOT to be EVER SO MUCH WORSE than advertised...
The Treasury today announced that the beleaguered bank Northern Rock will be nationalised.

In a statement, the chancellor, Alistair Darling, said that "under the current market conditions" neither of the two last-minute bids - submitted by Richard Branson's Virgin consortium and the Northern Rock management team - delivered "sufficient value for money to the taxpayer".

It marks the failure of the government to reach a deal with the private sector over the future of the bank. Emergency legislation will now be rushed through parliament.

Mr Darling said the move met "our objective of protecting taxpayers' interests".

every time i hear a phrase like "protecting taxpayers' interests," my hand immediately grabs for my wallet...

Labels: , , , , , ,

Submit To Propeller


And, yes, I DO take it personally home page