Northern Rock record taxpayer losses (04Aug09)
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The bank Northern Crook runs up a huge £700m+ loss for the taxpayer to pay thanks to their lending policies. Congratulations to New Labour for their total lack of regulation of the banks, which created the first run on a UK bank in over 100 years. And still New Labour think their “Tripartite” regulator system works….. if it worked, there wouldn’t have been the only government to cause a run on a bank! Using the 1pm version as BBC reporter Robert Peston gives a legendary idiotic / simplistic outlook for Northern Crook and the taxpayers liabilities. Recorded from BBC 1pm News, 04 August 2009.
February 19 2010 | Loans | 5 Comments »