Fury over Northern Rock nationalisation

Alistair Darling on Sunday announced the first nationalisation of a sizeable British bank in a quarter of a century as he put Northern Rock into public ownership, infuriating shareholders and shocking the two private bidders hoping to take over the stricken mortgage lender.

 
Visibly concerned to avoid queues forming outside branches this morning, the chancellor and Ron Sandler, Northern Rock’s new executive chairman, insisted it would be “business as usual”.