The Daily Telegraph's Jeff Randall has done a great article on the debacle of Northern Rock, which is being faced by British prime minister Gordon Brown. Randall regards as unlikey that Northern Rock will get any value for their shares.
Randall makes a telling comment "Brown is trying desperately to steer clear
of the crime scene, while maintaining the fiction that taxpayers' interests are protected."
This was from yesterday's Daily Telegraph. In today's the supposed free market Financial Times, there was an editorial call for the nationalisation of
Northern Rock.
In any event I think the Northern Rock shareholders are in a bit of a predicament,
although some clinging to hopes engendered by the interest of Richard Branson's
Virgin Group.
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