Northern Rock revisited!!

I have been reading in the Daily Mail extracts of Alex Brummer's book on the collapse of Northern Rock. It was interesting that the British government did not really want to deal with Richard Branson, who it suspected would make pots of money from any acquisition. The nationalisation option has safeguarded Northern Rock but it is becoming a smaller bank and is no longer the flagship institution of the
north-east of England.
www.searchaccountant.co.uk
I still wished I had not bought shares in the Northern Rock. I was dimly aware of the profit warning and I thought the shares were a buy, although they had come down sharply from a recent twelve quid high. However, nobody's fault but mine. I accepted there could be a loss. I don't rate the chances much of Northern Rock shareholders of getting significant compensation. Railtrack shareholders did not do at all well
with the government.
Alex Brummer says the £100bn liability of the Northern Rock rescue hits the government's fiscal rules while New Labour has allowed the economy to be
credit-fuelled.