Northern Rock: rocking on?

[Scubee]

Originally Posted by wilbo

you used the word 'piss' - which even I find quite offensive.



don't worry about it..

Originally Posted by Steve S

And the word Monty, which most straight blurkes find offensive

Safe diving,
Steve

Originally Posted by Kirstie

You used the TS word, which I find offensive

Originally Posted by wilbo

Saucer of milk kitty?

It all becomes clear.
I must be a touch sensitive.
BTW - there is a spare saucer of milk going here, as I appear to only have one cat left. Bloody fireworks

[Kirstie]

Originally Posted by wilbo

Saucer of milk kitty?

Meow, yes please!

[captainnemo]

So apparently the monies poured into NR may no be quite as safe as Darling originally claimed....

Presumably the collapse in the share price of NR is down to media hysterics and the absence of viable offers for the moribund company is no reflection on the business model.

Oh yes, and the resignation of various board members should not be seen as any sort of reflection on the activities of said board....

Still, given the latest SNAFU where the financial details of 25 million people have been mislaid why should we worry about whether 24 or 40 billion has been flushed down NR, it's only money.

Pending lectures on absence of qualification: it is a matter of record that the share price of NR has collapsed, the Chancellor has made a statement on the financial situation at NR and it is similarly a matter of record that bids for the company have not been enthusiastically received.

The situation at NR is dire and even the Chancellor concedes this. The only questions that remain unanswered are the levels of committment entered into on behalf of the taxpayer (and I assume that media reports of £900 per capita are not unreasonable)

In the recent debate in the House, various Labour MPs gave the distinct impression that propping up NR was a political necessity (all those votes) which makes something of a mockery of prudent financial management....and backs up my original suggestion.

[chrisch]

Originally Posted by captainnemo

... various Labour MPs gave the distinct impression that propping up NR was a political necessity .....

What would you prefer, let it go down the shitter and all those ordinary folks lose their money and their houses?

Chris

[captainnemo]

Remember Farepak, relatively small scale financial screw up involving Xmas savings funds for a group of people. All they got from Gordon Brown was sympathetic mooing noises.

Remember the thousands of people who lost their pensions when firms went bust, again all they got from Gordon was guff, despite the ombusdsman clearly stating that government advice made them liable for some form of compo.

Then along comes NR, a fairly straightforward case of financial mismanagement leading to colossal losses and Gordon leaps into action (with our money, he's good like that)

What makes NR so deserving of our assistance when other financial cockups are evidently ignorable?

[David Pye]

Originally Posted by captainnemo

What makes NR so deserving of our assistance when other financial cockups are evidently ignorable?

well, if you put your axe down for a second (it doesnt need grinding now, it's quite sharp enough as it is)...

Mainly because the impact of Farepak going down the shitter was a bad Christmas for the families involved. Not to belittle this but still.

Compared to NR going down the shitter, which could result in the collapse of the housing market due to a domino-type effect, and far bigger consequences to the country as a whole.

Out of curiosity, why are you annoyed enough that you rant about NR still? As you pointed out, there are plenty of other good rant topics, like the 25-million child benefit records that got 'lost'. So why this one?

David

[chrisch]

Originally Posted by David Pye

......
Out of curiosity, why are you annoyed enough that you rant about NR still? As you pointed out, there are plenty of other good rant topics, like the 25-million child benefit records that got 'lost'. So why this one?

....

He can't blame Gordon brown for that one. More tiresome Daily Mail bigotry will follow I'm sure... yawn....

Chris

[captainnemo]

On the one hand you say that the collapse of NR would be a catastrophe then you wonder why I return to the subject....doh. As to ranting, do one.

And as to the pathetic jibes about the Daily Mail, wow, the standards of critical debate remain as high as ever. And I don't read the rag anyway.

[fezboy]

Can't find enough money to provide proper equipment for the troops, but easily finds more money than the Defence Budget to protect shareholders....

[Stesh]