Northern Rock becomes AAA - lol

this should stabilize the situation. NRK is likely dead anyway - the question is how well it can sell itself - likely to somebody who wants a bigger share of UK mortgage market.

disclosure: I own some.:(
 
Merv King, the govenor of the BOE, was talking about moral hazard in a speech last wednesday. Guess people decided to take less risk!
 
it is more complicated I think - this guarantee has nothing to do with BOE.
In fact it is very much a political gesture from Labour govt. The reason I believe is that a lot of influential people have their hands dirty so the best way to play cards is to play them safe (and possibly for taxpayer's money) :)
 
It's no wonder UK depositers are nervous.

According to the arcticle, their deposit is only insured for £2,000. In the USA, depositors are insured for $100,000.

I be nervous too with such a small insurance amount. Your retirement funds can be practically wiped out.
 
Quote from WinSum:

It's no wonder UK depositers are nervous.

According to the arcticle, their deposit is only insured for £2,000. In the USA, depositors are insured for $100,000.

I be nervous too with such a small insurance amount. Your retirement funds can be practically wiped out.
More...

100% of the first £2k and 90% of the next £33k. Giving a max £31.7k payout.
 
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