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Northern Rock (NRK)     

irlee57 - 13 Aug 2007 09:03

any comments, thoughts, on this stock.

halifax - 18 Aug 2009 15:47 - 1027 of 1029

Why doesn't Darling call in the liquidators, what a waste of taxpayers money.

hangon - 19 Aug 2009 20:40 - 1028 of 1029

Halifax, FWIW I suspect the Administrators would have to make mincemeat of NRK's auditors, as well as Management - this might be popular with the Public ( who really are due some "bloodletting", er, IMHO) . . . . . but it would beg the Question - why wasn't the FSA et.al aware of this pending fiasco?
IMHO that is somewhere near 2004 when they were actively providing Mortgages that were above the value of the property, even after the valuations were inflated to keep the market bouyant. The Gov too was "in" on this lie, believing that the Public wanted rising prices, even though it was creating a distortion that young wage-earners could not buy their own home.

Whichever way it is played, there will be some embarassing statements that our Gov will find hard to swallow. Along with many ex-employees who lost their life-savings (in shares) there was the many Pension funds that lost money when the truth was Out. I suspect there was a "false Market" as the Government delayed/dithered and this might lead to class-actions . . . . . . memories of the Queues will be with us for many decades . . . the UK was the disgraced Banking System, after all.
All IMHO - DYOR.

skinny - 17 Nov 2011 09:04 - 1029 of 1029

Northern Rock sale announced by chancellor

Northern Rock is being sold to Virgin Money for 747m, the government has announced.
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