Northern on the rocks

[Digit]

Congratulations everybody, you are now share holders in Northern Rock as our Darling Chancer has nationalized it.

Roy.

 

[RogerS]

Should have let it go to the wall. The money that they (the Govt) pumped into it could have paid many times over for all the other 'promises' that they've made and reneged on. Ten years of watching our society slowly slide down the plughole of mediocrity - sigh....

 

[Rich]

I'll tell you, this is doing my head in, last week Caroline flint said that people in council accomodation must seek employment or lose the right to live there, this week Gordon said anyone looking for work will receive extra benefit payments, yesterday Flint said "it was NOW unacceptable for those under 18 to be drinking alcohol on the street and would empower the police to confiscate their cans of alcohol"
Just when DID IT BECOME ACCEPTABLE? Let alone illegal, I don't know wether I'm coming or going, HOW do these people hold down a job? what would they do if they had to do real work in the real world, we must be the softest nation in the world, roll on the next election, if anarchy does'nt break out first.
well, thats got that off my chest.

Rich.

 

[Digit]

Well as long as it makes you feel better Rich. Get it off your chest before Comrade Broon makes it illegal I say. :roll:

Roy.

 

[PowerTool]

My mortgage is with Northern Rock - I was a bit concerned last year,when all the news broke;then I thought about it and realised I owe them money and not the other way around,so suddenly felt a whole lot better... :wink:

Andrew (still with NR,still not worrying 8) )

 

[StevieB]

Not Strictly true Andrew, you owe them money, but until you pay it back they own your house. Or more properly, we as tax payers all have a small stake in your house

Although the bank could foreclose and take the houses back to sell for the cash it would raise, that is never going to happen. An easier alternative is simply to put up its mortgage rates and make you choose to go elsewhere for a cheaper mortgage, thus clearing its books of your debt to them. It then becomes a balancing act of how high to raise them to get mortgage borrowers to leave, how high to raise savings rates to get people to deposit savings and at what point to sell the whole lot to Beardy Branson in the future when it has all died down. Final alternative is simply to leave it in a mess for a couple of years and come the general election it will be someone elses problem :lol:

Steve.

 

[Digit]

Like the Olympics, under funding & low manpower of the Forces, overcrowding of prisons, rising violence, falling standards of living etc you mean Steve? :twisted:

Roy.

 

[Anonymous]

Like the Olympics, under funding & low manpower of the Forces, overcrowding of prisons, rising violence, falling standards of living etc you mean Steve? :twisted:

Roy.

You're right, the government has a bottomless pit of money and should fund everything with every penny it wants and needs

 

[MrJay]

Gah - Governments are rubbish - Libertarians like Matt Riddley (oh the irony) should run everything. Oh wait...
Conservatives then - we should have more neo-liberalsim - oh drat - Wah it's all the fault of do-gooders whatever. Somebody should do something.

 

[RogerS]

Like the Olympics, under funding & low manpower of the Forces, overcrowding of prisons, rising violence, falling standards of living etc you mean Steve? :twisted:

Roy.

You're right, the government has a bottomless pit of money and should fund everything with every penny it wants and needs

No-ones saying that they should, Tony. I think what we are questioning is their priorities and focus (or rather lack of)

 

[Digit]

The government is running out of our money, like every previous Labour admin. If you keep an eye on the small print you will see that it is cutting funding to just about every minority action that it can. For example, we are pulling out of a new telescope venture, the new smasher at CERN is under review, funding has been cut to the inland waterways and also to the arts.
That this year alone!
Watch this space! :twisted:

Roy.

 

[devonwoody]

I could have solved this problem without paying that bloke £100K per month.

NR raise their interest to 15% for savers(hooray) (your savings are guaranteed 90%
Other banks would have had to do the same (hooray)

Mortgages go up.

Thats why it has been nationalised. (there was a meeting last week of 7 world leaders at Number 10 and it was fixed.

That stopped Mr. Branson making a fortune.

 

[StevieB]

But how do you pay the 15% interest on £1 billion worth of savings DW?

Not entirely convinced it took a meeting of 7 heads of state to decide whether Richard Branson should take over NR or not to be honest either!

Steve.

 

[devonwoody]

Mortgages go up to 17% .

Then you have inflation,

So NR is therefore nationalised.(another reason)

 

[RogerS]

ZZZZZzzzzzzzzzzzzzzzz......no, not boredom with the thread but the sound of the FSA while the NR debacle unfolded. Too busy bitching amongst themselves to do what they were paid to do.

 

[tim]

Out of interest, how does this thread not contravene Forum rule 6 - no political discussion?

Cheers

Tim

 

[Karl]

NR can put their rates up all they like - i've got a 15 year fixed rate deal with them, with 14.5 years remaining. :lol:

Cheers

Karl

 

[StevieB]

It doesn't really, and I am sure the mods are keeping an eye on it, but in light of recent events and a more softly softly approach we are being allowed enough rope to see if we can play nicely or if we end up hanging ourselves.

Steve.

 

[MrJay]

Damn, I've been biting my tongue since November out of respect for the forum rules, when all along I could have had breakfast. Grrr.

 

[gasmansteve]

Out of interest, how does this thread not contravene Forum rule 6 - no political discussion?

I did wonder about that myself Tim and I speak as someone who seems to have had his wrist slapped for something similar?
Cheers
Steve