Taxpayer to underpin Northern Rock for at least 5 years...

#2
As ever the devil is in the detail and a lot of whether this costs the taxpayer money with little return or gives an oportuniy for the taxpayer to earn a bit will depend on just how these bonds are put together.
 
#3
Re: Taxpayer to underpin Northern Rock for at least 5 years.

£100 Billion of taxpayers money… clearly worth it to safeguard our beloved Chancellors mortgage with Northern Rock
 
#4
When you compare this to the fact that the Defence budget is only £33 Billion, give or take a few pounds, it really brings it into context.
 
#5
Re: Taxpayer to underpin Northern Rock for at least 5 years.

They are going to make it even worse now by throwing more money at it. They wouldnt make the forces worse if they threw money at it but you can be sure they will never do that.
 
#6
They should invest it in the Bank of Rum Ration and AARSE (alias BRASS)
and we'll invest it wisely. Better have a matelot as Chairman of the bank though or the COs might syphon off the funds for the pongos ;) How about Maxi?
 
#7
Re: Taxpayer to underpin Northern Rock for at least 5 years.

Blood said:
When you compare this to the fact that the Defence budget is only £33 Billion, give or take a few pounds, it really brings it into context.
Banks generate money.

Defence Costs money.

Figure it out, who do you throw money at?

I did read the statement and he said "The buyer WILL have to PAY BACK the loan COMPLETE WITH INTEREST".. Through my rose coloured glasses I can see what he is aiming at..

However: I also believe that Pigs can fly
 
#8
Re: Taxpayer to underpin Northern Rock for at least 5 years.

PINCH said:
Blood said:
When you compare this to the fact that the Defence budget is only £33 Billion, give or take a few pounds, it really brings it into context.
Banks generate money.

This particular Bank also provides a certain Chancellors mortgage so we should not complain.

http://www.dailymail.co.uk/pages/live/articles/news/news.html?in_article_id=487171&in_page_id=1770


No conflict of interest there then…
 
#9
Re: Taxpayer to underpin Northern Rock for at least 5 years.

Oil_Slick said:
PINCH said:
Blood said:
When you compare this to the fact that the Defence budget is only £33 Billion, give or take a few pounds, it really brings it into context.
Banks generate money.

This particular Bank also provides a certain Chancellors mortgage so we should not complain.

http://www.dailymail.co.uk/pages/live/articles/news/news.html?in_article_id=487171&in_page_id=1770


No conflict of interest there then…
Certainly no conflict of interest. if Northern rock had collapsed his Mortgage would have been taken over by another lender.
He is a borrower not an investor.
 

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