Northern Rock on the brink of nationalisation
8:18amToday’s Telegraph reports that the government will use a report by Goldman Sachs to justify the effective nationalisation of Northern Rock at the end of this month. The nationalisation of Northern Rock would be the admission of an amazing failure in policy since the run on the bank in September. It is staggering that the cost to each taxpayer of the attempt to bail out the Rock could be as high as £1,800.
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