Northern Rock Is Finished

T

THE-BEAKER

shares currently suspended in london.

last traded at 61p.

darling must be out of a job by the end of the week.

he just cost me and the british tax payer £30 billion quid.

thanks a bunch.

countrywide next oi oi oi .
 
wow I'm shocked, the Bank of England just pumped them full of liquidity not to long ago. Depositors must be pulling their accounts like their was no tomorrow
 
Quote from palenimbus:

wow I'm shocked, the Bank of England just pumped them full of liquidity not to long ago. Depositors must be pulling their accounts like their was no tomorrow
More...

they already did pull their money , thats just part of the problem.

all they have is a mortgage potrfolio of mostly highly subprime defaulting crap that nobody wants to pay back and you have to fund from the market 5 percent more than you can afford to.

reminds me so much of the countrywide model as well.

when people in the states realise that countrywide are the same their shares too will be around 61 cents.

:D
 
Quote from palenimbus:

wow I'm shocked, the Bank of England just pumped them full of liquidity not to long ago. Depositors must be pulling their accounts like their was no tomorrow
More...

Government backed guarantee clearly not making a positive effect, perhaps people do not trust the government that much any more. definetly looks like the end for NR.
 
This only proves how mentally retarded the management there was.
As soon as you introduce "Upper-Class" in bred idiots into a public company (actually any company!) you get this.
Barings was another example (remember Nick Leeson?)

I am astounded this doesn't happen more frequently there in England.

Dumb Poms. They just allowed it to happen!
 
Quote from Alex_in_Oz:


Dumb Poms. They just allowed it to happen!
More...

Firstly, no matter how much dumber current society seems to be over in the UK, do not forget that London still is a financial hub, if not the main one, not fucking...what's your capital again is Oz?

What's happening to NR is not eco-territorial, it is a trend practice, other banks will start making announcements in the future, I can sense it :)
 
I've never been a 'flag waver' for this fartarse little economy. We are infected with the same 'stupid disease' which seems to have infected the brits. After all the convicts here are their distant relatives.

If it wasn't for the resources sector in this country we (Australia)would be like Costa Rica.
 
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