Northern Rock.

[Leekbrookgull]

Hm Govt about to nationalise Northern Rock. Why ?

 

[Happy Seagull]

Because there is shit loads of tax payers cash riding on it.

 

[Herr Tubthumper]

A good move.

 

[Virgo's Haircut]

Next, they can do the same to the railway.

 

[dougdeep]

Not long term though.

 

[bigc]

Next, they can do the same to the railway.

Starting with "First" Great Western and Capital Connect., I'd hope.

That looks unlikely though,doesnt it? After all, when the SRA RAN SouthEastern, they gave that back to the private sector even though the SRA were doing a good job.

 

[Cian]

Starting with "First" Great Western and Capital Connect., I'd hope.

That looks unlikely though,doesnt it? After all, when the SRA RAN SouthEastern, they gave that back to the private sector even though the SRA were doing a good job.

And NIRailways - the last totally state controlled TOC - is run very, very well with a comparatively low subsidy considering all bar one of its services was written off as unprofitable in the 1960s (and its equivalent of the Beeching Axe nearly closed all bar that one service - to Dublin - before it was stopped).

 

[Lord Bracknell]

Isn't GoVia, who run our friendly neighbourhood Southern franchise, partly owned by Keolis, who are in turn partly owned by SNCF, the French nationalised rail business?

In which case, we do have a partially 'nationalised' railway in Sussex. Shame we can't vote for the French government and put the pressure on them to do a better job.

Sarkozy OUT!

 

[seagullsovergrimsby]

Hm Govt about to nationalise Northern Rock. Why ?

About £30bn has been given to the bank , so the Government needs to ensure this money doesn't end up as a write off. With the Northern Rock nationalised it can then be broken up so the assets are realised and the money lent to them by the Treasury and the Bank of England is repaid.

 

[The Clown of Pevensey Bay]

In effect, every UK taxpayer has put NINE HUNDRED POUNDS into Northern Rock now.

Frightening.

 

[Beach Hut]

Next, they can do the same to the railway.

Don't be silly Rail Privatisation has ensured we are all paid loads more than normal

 

[seagullsovergrimsby]

In effect, every UK taxpayer has put NINE HUNDRED POUNDS into Northern Rock now.

Frightening.

Wheres my interest ?

 

[The Clown of Pevensey Bay]

I'm afraid it doesn't actually work like that, but I know what you mean...

 

[Herr Tubthumper]

In effect, every UK taxpayer has put NINE HUNDRED POUNDS into Northern Rock now.

Frightening.

So when it gets sold off will we all get a windfall like when all those carpet bagger scumbags originally sold off Northern Rock?

 

[seagullsovergrimsby]

No , the £900 that we have donated to Northern Rock gets repaid back to the Treasury and we end up with nothing. Mind you we didn't have anything in the first place , in effect the Government used us as a loan guarantee.

 

[Herr Tubthumper]

I quite like the idea of a nationalised building society. Kind of takes it back to its routes.

 

[bigc]

on the BBC news story, it has the quote of a Northern Rock shareholder saying how the government are totally inept when it comes to money, and how he wouldn't trust them with the keys to his piggy bank..

Well doesn't that sound a bit stupid coming from someone who has shares in a failed bank? He hardly picked a dead cert for investment gains, did he

 

[Porky]

Mr. Darling says the takeover will only be until the economy improves, then any profits can be to the taxpayers benefit.

I suggest you do not hold your collective breath.