[GJM] Interesting Article from the Financial Times on Northern Rock..................................................................

[robert searle]

--- emailThis at ft.com wrote:

> The following email has been sent to you by
> dharao4 at yahoo.co.uk
> Dear All,
> 
>       Chris Cook originally mentioned this article
> on the Gang 8 discussion group, and I think it might
> also be worthy to be examined here.
> 
> 
> R.Searle
> NORTHERN ROCK IS MAKING MONEY FOR TAXPAYERS
> By Tim CongdonPublished: November 1 2007 18:20 |
> Last updated: November 2 2007 00:02
> Government intervention in the management of
> Northern Rock is universally regarded as a stain on
> British banking and monetary policy. The Bank of
> England’s loan has reached nearly £23bn, which is
> about a fifth of Northern Rock’s total
> liabilities. Alistair Darling, the chancellor, has
> said he expects the bank’s directors to come up
> with proposals by February to end its reliance on
> government support.
> But what is the rush? Is there a serious threat to
> Britain’s public finances? Is a large sum of
> public money at risk?
> This article can be found at:
>
http://www.ft.com/cms/s/d65ada1e-888d-11dc-84c9-0000779fd2ac,_i_email=y.html
> "FT" and "Financial Times" are trademarks of The
> Financial Times.
> Copyright The Financial Times Ltd 2007



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