Northern Rock 'n Roll

Robert Peston of the BBC reports that Northern Rock has made a £500 million loss but has made a sterling effort in paying back some of the taxpayers' money quicker than expected. Does it really matter if Northern Rock declares losses or gains as if it were still a bank in the private sector? I don't think so. The outfit is only fit for staying alive so long as it owes money to us, the taxpayers. The Government basically drained the lifeblood out of it. The business survives like some confined creature that has a starring role in Doctor Who. We'll keep on its good side until it is time to say "Exterminate! Exterminate!"

Posted in: credit crunch,Northern Rock,Taxpayers Alliance