My names Gareth Quinn i had an accident and woke up in 1973
Am i mad? In a Coma? or back in time?
No just under New Labour after they decided to go back to this time period.
Gordon Brown has decided to Nationalise Northern Rock
The new Executive Chairman Ron Sandler said " There is no guarantee they will succeed"
Mr Sandler has been charged with finding a viable business plan for the lender and was speaking after meeting managers and staff.
He said that bank was well placed to recover from the problems that were started by a slump in the US housing market and led to a freezing up of global credit markets.
But, he cautioned that "nothing is guaranteed in this world".
"All possible solutions carry with them an element of risk," he added.
Mr Sandler explained that it would take years for the bank to pay back its loans from the taxpayer.
When asked about the loans he said: "It is clearly unrealistic to talk about months. We are clearly talking about a period of some years."
The Prime Minister Gordon Brown has been defending the government's decision to nationalise Northern Rock.
At a Downing Street briefing he called it "the right move at the right time for the right reasons".
The government's move has been fiercely criticised by shareholders who face losing almost all of their investment.
Shadow chancellor George Osborne said the nationalisation plans were "catastrophic," and that they would be opposed by the Conservatives.
5 comments:
We could always party like it's 1979?
Even Roy Oldham has admitted that the next Government will probably be Tory. Labour, you're fkd...
Is that when he wasn't making racist comments about Irish workmen
Roll on the general election, let's boot these losers out
I can't wait! Own goal from Uncle Roy. This time the Tories will do you all justice. Pitty Gordon Brown wouldn't allow us the keys to number 10 in November. We would of walked it.
Unfortunately Labour will leave us in a mess. When Labour entered in 1997 they had everything on a plate.
“I inherited a sick economy and passed on a sound one. But one abiding regret for me is that, in between, I did not have the resources to put in place the educational and social changes about which I cared to much; I made only a beginning, and it was not enough.”
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