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Northern Rock to be nationalised

Discussion in 'General Discussion' started by TheSpence, Feb 17, 2008.

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  1. TheSpence

    TheSpence Registered User

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    Northern Rock to be nationalised

    More to follow after 4pm
    TheSpence, Feb 17, 2008
    #1
  2. 1615634792921.png
  3. andy_rocks

    andy_rocks Registered User

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    Absolute farce.
    andy_rocks, Feb 17, 2008
    #2
  4. Jase

    Jase Blue Booked

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    I preferred northern soul
    Jase, Feb 17, 2008
    #3
  5. Phil Mitchell

    Phil Mitchell check me a dollar brer?

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    Phil Mitchell, Feb 17, 2008
    #4
  6. TheSpence

    TheSpence Registered User

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    The new shirt:

    Attached Files:

    TheSpence, Feb 17, 2008
    #5
  7. andy_rocks

    andy_rocks Registered User

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    :lol:
    andy_rocks, Feb 17, 2008
    #6
  8. Conway

    Conway helmet Staff

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    new sponsor's slogan: "always nicking your money" :lol:
    Conway, Feb 17, 2008
    #7
  9. BRID

    BRID Has name in red. Staff

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    Even if the government had given every employee of northern rock 15 million quid, they would have wasted LESS money than they have right now propping up a dead dog.

    If a business is not in a fit state to run, it should go bankrupt and allow better businesses to make a go of it.

    100 billion quid versus 3 billion quid spent by the tories on black wednesday ..... still, Maggie thatcher took our milk away. The slag.
    BRID, Feb 18, 2008
    #8
  10. forks

    forks still not dead

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    hmm...................£15m to each employee........ but what about the people who's money was on deposit? and what about the ensuing collapse in confidence in the entire banking system? and the money from the government is not a loss but a guarantee. and unlike black wednesday the problems were caused by the directors of the bank not by the government (who have admittedly made a hamfisted job of trying to sort it out)
    and Thatcher took our manufacturing base away as well as the milk and set in train the idea that greed is good and that the market is god which eventually led to the Rocks demise.
    forks, Feb 18, 2008
    #9
  11. Andy

    Andy

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    Don't you figure it's political suicide to allow a bank to go under, because all those voters losing their life savings?

    Plus, there is a distinction between giving money away and lending it. Hopefully the taxpayer will now eventually get their money back, possibly even with some profit.

    Nationalisation could be argued to give the best chance of this.
    Andy, Feb 18, 2008
    #10
  12. BRID

    BRID Has name in red. Staff

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    Privatise profits.

    Nationalise losses.

    Good old nu labour.
    BRID, Feb 18, 2008
    #11
  13. forks

    forks still not dead

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    :lol:
    aye and the tube maintenance contract too
    forks, Feb 18, 2008
    #12
  14. TheSpence

    TheSpence Registered User

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    The last time a company was nationalised it was by the blues. That company today operates with a slogan "Trusted to deliver excellence"
    TheSpence, Feb 18, 2008
    #13
  15. BRID

    BRID Has name in red. Staff

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    Well if Rolls Royce was a success story, then i guess its ok that every tax payer in the UK should be lumbered with a 3-4 grand second mortgage to keep a bank with an outright terrible and moraly reprehensible business plan alive.

    People might have a different opinion of northern rock if it wasnt a north eastern company. Are 6 thousand jobs REALLY worth 100 billion quid?
    BRID, Feb 19, 2008
    #14
  16. TheSpence

    TheSpence Registered User

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    Your so quick to jump on you anti-North East bandwagon. I was only pointing out nationisation worked out really well the last time a Government did it with a company.

    I also think them appointing Ron Sandler to run things is positive (for taxpayers) if you look at his track record when he dealt with the Lloyd's fiasco. It does look like you will get the cull you have praying for as Ron is going to sack a stack, not the 6000+ you were looking for though:p

    Have they really had a 100 billion now:lol: Only last week in the Guardian I read they had borrowed 25 billion, another 25 billion was earmarked. Obvisoly I have missed NR getting the 25 billion & whopping 50 billion, must have been down the back of sofa somewhere.
    TheSpence, Feb 19, 2008
    #15
  17. French William

    French William _________________

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    There is not a single thing in the above that isn't absolutely rubbish. You really should be writing for the Mail/Express.
    French William, Feb 19, 2008
    #16
  18. ManofScience

    ManofScience Guest

    so what happens to the share holders? our lasses mum has a load.
    ManofScience, Feb 19, 2008
    #17
  19. French William

    French William _________________

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    They'll probably get nothing. Or close to nothing.
    French William, Feb 19, 2008
    #18
  20. ManofScience

    ManofScience Guest

    apparently they were worth 10 grand at 1 point - they had bought more when they got the chance :(

    thats the risk you take i suppose
    ManofScience, Feb 19, 2008
    #19
  21. BRID

    BRID Has name in red. Staff

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    Haha - i love how im painted with the anti-NE brush the moment i dare to say maybe a business that has gotten ITSELF into trouble by doing business in a questionable manner, deserves to go under.

    Just because something has the word 'northern' in it, doesnt mean we have to offer support no matter what, and that doesnt instantly mean im in support of job losses merely by association. And just because i happen to live south of the river tyne these days doesnt mean anything i dare to say that isnt outright congratulatory about the place im from, doesnt mean im also some kind of infidel/heretic :lol: :lol:

    It amazes me just how much money can be wasted, and how many times the figures can just go up and up and up .... before someone actually says this shit has to stop. Everyone has to pay for this all at the end of the day.
    BRID, Feb 19, 2008
    #20
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