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Guy Fawkes' blog (Free subscription) | 10/08/2008
Pretty soon we are going to be talking real money. Guido has lost track of the repeated Bank of England interventions to try and flood liquidity into the money markets. Those alone could easily be as much as £200 billion or more. The government bail out, never mind the Bank interventions, is secured against the hard work of Britain's 28 million taxpayers. The government is risking more than £10,000...
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Banking Business Review (Free subscription) | 10/06/2008
British bank Northern Rock has made further changes to its range of savings products to commit to its competitive framework to ensure that it does not exceed 1.5% of the UK's retail deposit balances.
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Scotsman.com (Free subscription) | 10/06/2008
Surely Northern Rock and the Irish banks should pay lower rates of interest to depositors if they have full government backing.
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angels in marble (Free subscription) | yesterday
The New Labour permanent state seems to have lost its second slush fund. First Northern Rock, now Icelandic banks. They aren't very good at managing finances are they?
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Daled Amos (Free subscription) | yesterday
From an email:Japan's Bank Crisis Following the problems in the sub-prime lending market in America and the run on Northern Rock in the UK, uncertainty has now hit Japan. In the last 7 days Origami Bank has folded, Sumo Bank has gone belly up, and Bonsai Bank announced plans to cut some of its branches. Yesterday, it was announced that Karaoke Bank is up for sale and will likely go for a song,...
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Labourhome (Free subscription) | 10/09/2008
The Tories keep talking about Northern Rock and the latest cash injection as if it were money spent and gone. It is borrowing, but it's borrowing to invest. According to Ashley Seager in the Guardian, Darling announced last week that half the £26bn loaned to Northern Rock has been repaid. The ONS added the loan figure to the National Debt, and they might do the same with banks benefiting...
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Borthlas (Free subscription) | 10/09/2008
I have to admit that I'm struggling to keep up with precisely how many billions it is costing us as taxpayers to bail out the banking system. There's the cost of nationalising both Northern Rock and Bradford and Bingley, and there's the £50bn announced yesterday to buy a share of most of the UK's banks. Then there's the injection of an extra £250bn of liquidity into the banking system, and the...
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Peak Energy (Free subscription) | 10/09/2008
One doing the rounds lately: Following the problems in the sub-prime lending market in America and the run on Northern Rock in the UK, uncertainty has now hit Japan. In the last 7 days Origami Bank has folded, Sumo Bank has gone belly up and Bonsai Bank announced plans to cut some of its branches. Yesterday, it was announced that Karaoke Bank is up for sale and will likely go for a song while...
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The Stinging Nettle (Free subscription) | 10/09/2008
The last time I went to England, I arrived the day of the collapse of the Northern Rock. Yesterday I took down the country of Iceland. I obviously need to travel less frequently.
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Eastcliff Matters (Free subscription) | 10/09/2008
Who would have thought that New Labour would have come so close to “Public ownership of the commanding heights of the economy”? What happened with B&B and Northern Rock now pales into insignificance when compared to the latest extension of part public ownership to the UK's biggest banks. Who knows where this will end, but surely attitudes must move against the reckless excesses and greed shown...
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The Business of America is Business (Free subscription) | 10/09/2008
Just got this from a colleague and it makes we wonder: how bad can things be when people can make up jokes this good? Following the problems in the sub-prime lending market in America and the run on Northern Rock in the UK , uncertainty has now hit Japan . In the last 7 days the Origami Bank has folded, the Sumo Bank has gone belly up and the Bonsai Bank announced plans to cut some of its branches....
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UK Libertarian Party (Free subscription) | 10/08/2008
Someone who I know slightly through work is feeling a bit hard done by financially. Most of his shares were in Northern Rock (and various other turkeys) and his savings are with Icesave. He has been on the phone rather a lot today to the FSA and the words "Chocolate Teapot" spring to mind- He will probably get refunded up to £50,000 provided that he qualifies to do so but they can't tell him...
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sCa1LyWaG (Free subscription) | 10/09/2008
from numbnut: from yacg: Following the problems in the sub-prime lending market in the United States and the run on Northern Rock and B&B in the United Kingdom, uncertainty has now hit Japan. In the last 7 days Origami Bank has folded, Sumo Bank has gone belly up and Bonsai Bank announced plans to [...]
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Ecademy: user blogs (Free subscription) | 10/08/2008
Following the problems with Lehmann Bros and in the sub-prime lending market in America and the run on Northern Rock, HBOS and Bradford & Bingley in the UK , uncertainty has now hit Japan . In the last 7 days Origami Bank has folded, Sumo Bank has gone belly up and Bonsai Bank announced plans to cut some of its branches. Yesterday, it was announced that Karaoke Bank is up for sale and will likely...
