Northern Rock

[rooneytoon]

DOES anyone else think that we've been robbed by the tyneside -tyneside -tyneside -tyneside -neys setting up the northern Rock to take our banks business?

One of the companies with drew lending from the Northern Rock has just spent billions buying bear stearns and offered to be part of a consortium to buy NR from the government. JP MORGAN THEIVING gits.

[Cockney_Rebel]

Hi
Although being from London originally I have lived and worked in Newcastle for 7 years and love the place, and fell for those who are losing there jobs. The reason its all gone t***ts up is simple - The rock ran on very thin margins, had hardly any assets to back themselves up, and handed out loans which no other banks could afford to do!! If it was any other business the gvnt would not have intervened. They didnt have a choice. I work in finance and the rock was a competitor and we couldnt believe what interest their loans were done at, and! a lot of their loans were given as a loss leader, so they could get other business. This is my point of view and Im sure its not the only one. Anyway Applegarth got a nice package.

[geordieboy]

Roonytoon I agree. It should neva av been took off us. As a shareholder, saver and mortgager with the Rock I am fuming!!! It was great for the whole of Tyneside and although it was going going thru a rough patch as a lot of businesses do Im sure other banks would not have been taken. The media hype ect was a joke too. With a bit of help it could have stayed in the hands of shareholders. to**ers!:mad: