Fury over Northern Rock nationalisation
polishd | February 17, 2008 at 05:27 pmby
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I can not see how this trend will be coming to the US but then again no one saw it coming to GB.
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”.