On 17 Nov 2011 at 12:43pm C#m7 wrote:
glad to see that financial wizard ozspawn has flogged off northern rock at a half billion quid loss to virgin money. Just what Branson needs, a bit of QE, eh? Bonuses all round, I say!
On 17 Nov 2011 at 1:40pm Northern Virgin wrote:
Actually it is worse than it looks at first. They have sold the profit making part of Northern Rock for a loss of half a billion while still owning the part that was split off and contains all the dodgy loans which will probably go down the drain.
On 17 Nov 2011 at 2:57pm Feline wrote:
Well politicians have to have an eye to what jobs they're going to get once they're kicked out of paliament you know! Hence keeping business and banks sweet while they're in power!
On 17 Nov 2011 at 3:43pm C#m7 wrote:
Got it! Spend the proceeds on setting up UK vulture funds - registered in Jersey [natch]. screw even more out of the 3rd world...yippee
[funny how you don't even get crocodile tears from the right wingers about these vile schemes. I guess just another wonderful aspect of the marvelous free market system...more deregulation, eh? chin chin]
On 17 Nov 2011 at 3:50pm rolololcv wrote:
On 17 Nov 2011 at 4:29pm bastian wrote:
so they sold off the profit making part? does that leave the other half that the government owns still opperating at a loss to the tax payer?
these people are amazing...no guilt..it's so bad you feel like congratulating them for their gaul.
On 17 Nov 2011 at 4:37pm Kettle wrote:
Come on then Paul - what do you think about this?
On 17 Nov 2011 at 5:35pm Annette Curtin-Twitcher wrote:
The whole thing is bloody ridiculous. Selling off banks cheap to your mates and expecting the taxpayer to pick up the tab makes benefit fraud look like small beer.
On 17 Nov 2011 at 8:24pm Paul Newman wrote:
Northern Wreck, you may recall, pre-dated the generalised banking crisis and went down in slight turbulence because of a disastrous business plan that involved having no money and undercutting the rest of the market. It was an institution of its region, the corrupt and subsidised North East, and played a supportive part on the miners strike, in its day. The New Labour regulatory system really proved its worth there.
I am rather bemused to see, what I took to be lefties, bitching about their taxes being used thusly. It would have taken a hard hearted free -marketeer, indeed, to let it rot as it deserved. It was duly taken into Public ownership with a view to salvaging what could be salvaged for the tax payer whilst protecting the home owners .
This involved separating the part that has a value as ever .
The general view seems to be its is an ok deal but the tax payer was on the hook for the second New Labour decided that it should be so.
For all I know nut selection hereabouts think the government should be in the Building Society business. The last person to come up with that weeze was Oswald Mosley.
On 17 Nov 2011 at 8:30pm Ivan wrote:
It is small beer.
I own a football club as I control huge amounts of oil due to my connections in Russia when the USSR collapsed. I know what small beer is. The UK is small beer. But you small people keep infighting about small things and things will stay OK for me and mine (did I mention I am also an international banker and financier?). Keep small, stay small. Thank you. I'm very grateful.
On 17 Nov 2011 at 8:48pm observer wrote:
Ivan, you did say international banker didnt you, only I wondered if it was a spelling mistake.
On 18 Nov 2011 at 5:37am Dingo wrote:
I`m sure this won`t be the fist time that a British citizen, stuck betwwen a rock and a hard on has been introduced to a so called Virgin by a pasty faced pimp and got a lot less than he was anticipating!
On 18 Nov 2011 at 8:42am Taff wrote:
PN......you really are a tory and smug to boot. Or should you be called Im all right Jack!
On 18 Nov 2011 at 9:37pm SHS wrote:
Just to be clear, Tory = hard-working and ambitious tax payer, Labour = someone who can't add up.
On 19 Nov 2011 at 2:32pm Kettle wrote:
So PN you are in favour of state support for failed businesses?