Monday, February 18, 2008

UK taxpayers pick up Northern Rock's pebbles

I've built walls,
A fortress deep and mighty,
That none may penetrate.
I have no need of friendship; friendship causes pain.
Its laughter and its loving I disdain.
I am a rock,
I am an island.

And a rock feels no pain;
And an island never cries.

Simon and Garfunkel -

The jolly olds in the merry isles of Britain have now purchased the failed Northern Bank.

Yep, just as Guambat feared, they nationalised the bank, darling.

Alistair Darling nationalises Northern Rock

Timeline of the Northern Rock crisis (First entry: "July 25, 2007: Northern Rock issues upbeat trading statement. The outlook for business, it says, is "very positive".)

Has the nationalisation of Northern Rock damaged Britain's reputation?

Nationalising Northern Rock was the right move

Northern Rock: prepare for another Alistair Darling cockup

Northern Rock shareholders wait on compensation


Now the story will get very interesting: His master's voice

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