The British government is now effectively the Rock's biggest backer. Should the treasury give shareholders a nominal price and take it into public ownership until such time the BoE gets its money back?
2007-11-25 05:48:42 · 11 answers · asked by Phil McCracken 5 in News & Events ➔ Current Events
It would not cost too much to buy the bank at a low share price and the state gets a viable business in return and can sell it when its loan is repaid.
2007-11-25 06:04:15 · update #1
It sounds an interesting idea, but the Virgin Money consortium look like the favourites at the moment:
http://news.bbc.co.uk/1/hi/business/7111813.stm
2007-11-25 06:23:05 · answer #1 · answered by Don't Panic 4 · 1⤊ 0⤋
Does anybody bear in concepts Barings economic corporation, even as Nick Leeson led to the downfall of this previous and revered economic corporation no individual stepped in to order it with billions of pounds of taxpayers funds, I comprehend for sure that it wasn't in a Labour Constituency, so why could the taxpayer be compelled to bail out this mis-managed juggernaut observed as Northern Rock.lack of money is the perennial excuse trotted out even as the authorities would not opt for to do something, yet without turning a hair they can without note locate an astronomical sum of money to rescue this organization.basically imagine the tremendous outcry there could be if this fiasco had occured below a Conservative authorities, the Labour pleasant media are giving the Labour authorities a really basic journey over this.
2016-10-25 01:29:06 · answer #2 · answered by ? 4 · 0⤊ 0⤋
What will probably happen; to total Governmental surprise is that some group like the Russian Mafia will buy the shares at rock bottom prices, thus the bank.
I understand that they have tumbled from £12.50 to £0.95 pence each; and we are paying to support the bank even now.
Of course, when a buyer is found; somewhere there will be a dirty handed Politician secretly brokering the deal.
2007-11-25 06:45:21 · answer #3 · answered by rogerglyn 6 · 0⤊ 2⤋
They might as well do, just been on the eveneineg news that the Bank of England are unlikely to get their(our) money back.
Think I`ll refer my creditors to Gordon Brown & Co.
2007-11-25 06:01:03 · answer #4 · answered by firebobby 7 · 0⤊ 0⤋
They can spend money on war, but not soldiers, hospitals, health service etc. They quickly for money for an aling private bank. The minute they put money in, it automatically became 'public'.
2007-11-26 03:39:19 · answer #5 · answered by Anonymous · 0⤊ 0⤋
As it is our (the taxpayers) money that has been used to bail it out, then yes, the general public should own it and get a share of any future profits.
2007-11-25 06:13:57 · answer #6 · answered by Anonymous · 1⤊ 0⤋
The government has already pumped in more than enough money to own the company outright. They should just take it over..!!
2007-11-25 06:04:22 · answer #7 · answered by Terry M 5 · 1⤊ 0⤋
Perhaps you should ask Richard Branson
2007-11-25 06:06:34 · answer #8 · answered by Anonymous · 1⤊ 0⤋
good time to buy northern rock shares.
2007-11-25 14:45:19 · answer #9 · answered by Anonymous · 0⤊ 0⤋
But, that would cost even more public money...
2007-11-25 05:54:34 · answer #10 · answered by BrilliantPomegranate 4 · 1⤊ 0⤋