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ARTICLE SUMMARY

Should taxpayers bail out Northern Rock?

NORTHERN Rock will get a fresh £3.4billion bail-out from taxpayers after re­vealing massive losses of £584.4million yesterday.

HEADS OR TAILS...YOU WIN!

24.08.08, 1:46pm

All investments carry risk. That's why interest is paid if your investment is successful. If you visit a bookie to make a bet find out whether, if your bet loses, he'll give you your money back.

• Posted by: poorboy • Report Comment

ARE U JOKING

20.08.08, 2:39am

of course we shouldn't sassia or whatever your stupid name is. It's the north. What have they ever given us besides their oil, gas, blood and guts? Lets place no regulation on the free market but let them come begging when they have screwed up. Lets allow thousands of people to loose their homes through no fault of their own. Throw their kids onto the streets hey? and then lets use our taxes to pay for 2 aircraft carriers costing £8b.

All heart aren't you? better hope it never happens to you or your kids. You witch.

• Posted by: brusselssprouts • Report Comment

NORTHERN ROCK

17.08.08, 8:55pm

Bailing out this bank is just typical of this government. Labourites have always used taxpayers money as though it was their own, but why should they get away with it? Why can't the Express/Mail/Guardian - or rather high profile people who work for these papers keep hammering away them and demanding they stop it? Of course, the north has always been a Labour heartland so they expect to keep their voters. Banks that buy bad debt deserve to go to the wall - expect they're using the government loans as assets and still paying their directors huge bonuses.

• Posted by: Sassa1 • Report Comment

NEVER EVER EVER

14.08.08, 7:27pm

Wy should the tax payer's hard earned cash be given to NR to bail them out yet again.....not only that the Chancellor should be sacked including everyone in the cabinet........

• Posted by: RealIstic08 • Report Comment

User Image

THIS IS JUST ONE REASON TO BAIL 'EM OUT.

11.08.08, 3:38pm

To begin with I thought that the Govenor of The Bank of England was in favour of NR going bust. But then I had another look and saw that like the County of Norfolk, many Local Authorities had part of their Pension Funds invested in Northern Rock. Never mind that the Private Pensions went down the drain, there must be about a million Public Servants who's going to lose out. That was part of reason for the bail-out. And compared to all the other debt, it's a piddling little amount.
Just the off-book debt must now be in the region of £2000 Billion. And as I have said many many times, there isn't a man, or women for that matter, alive today who will live long enough to see this money paid off. I know that much of it is on a five year re-financing basis, which means that every five years it is sold on and it all starts again and then every year there is a "Service Charge" to pay. If the Express will publish it, I'll send them a copy of it. All eight pages. I did send it to the Mail and to the Telegraph, but it was never even mentioned in those 'papers.
I have been re-reading correspondence from the CBI., in response to the story on page 43 of todays 'paper. First I'm going to have a cup of tea, and then I'll add to this comment.
Regards, ATFlynn, "Norfolk's Mutineer"

• Posted by: Watchkeeper • Report Comment

User Image

NO!!!!!!!!!!!!!!!!!!!!!

11.08.08, 8:30am

It is time we stop pouring money into private companies, after all that is what Northern Rock is, it is there to make money for its shareholders, why should my taxes go to support a failing bank, once again Labour miss judged the situation and poured in tax payers money, yet the bank is still failing.
This winter pensioner, and all the other vunrable people, who have not the resources to pay for the high cost energy, will be happy to know that 3.4 billion pounds have been poured yet again into Northern Rock.
Again Labour has got it wrong, they will not be able to walk away from Northern Rock it will become another mill stone around the tax payers neck.

• Posted by: mike1951 • Report Comment

RUHE03 - GORDON'S INSECURITY

10.08.08, 11:10pm


Brown will definitely need a well paid job soon - and I doubt that the Labour Party is going to offer him a nice cushy seat in the House of Lords for services rendered to the Labour Party. More like a boot up the backside for single-handedly destroying them.

• Posted by: beefsandwich • Report Comment

WHY IS IT

10.08.08, 11:03pm

We borrowed £6bn for illegal war
We borrowed £2.2bn to correct Brown's tax fiasco

Pensioners die of cold/ starvation
Not enough funds to reverse child poverty rather than Brown's legacy of accelerating it
We have record unemployment in the 18-24y/o sector
Our tax burden is at breaking point

Yet the money is available as a given for private industry? Perhaps Gordon's insecurity is such that he has to buy his chairman-ship for his post leadership days?

• Posted by: ruhe03 • Report Comment

NO TO BAILING OUT NORTHERN ROCK

08.08.08, 3:22pm

Absolute waste of public money bailing out Northern Rock, with no money for patients in dire need of drugs to give them a better quality and maybe longer life, so many charities having to rely on donations to keep goiing, closing of our hospitals, post offices etc. Our bills keep rising, with no help . Money seems to flow out the country to help others, and places that should be closed down , what about our People maybe give them a helping hand .

• Posted by: June61 • Report Comment

CLOSE THE ROCK

08.08.08, 12:13pm

Northern Rock should have been closed for business last year - after all nobody in their right mind would wan't to do business with them

• Posted by: bottomsupi • Report Comment

SORRY, EXPRESS, BUT I HAVE A GRIPE.

07.08.08, 9:54pm

It's become very noticable that any word with the letter "a", followed by two "s's" together is censored. The donkey is now infra dig. The pianos must now have covered legs. Come on , Express, you are a great paper. Put this right..

• Posted by: bluenote • Report Comment

OR

07.08.08, 9:04pm

Fund NICE to the point where at least once a month where they don't p**** a judgement saying "We don't care if you die, we've saved a couple of quid"

• Posted by: ruhe03 • Report Comment

BAILING OUT NORTHERN ROCK

07.08.08, 8:59pm

Isn't it amazing that Labour can afford to bail out Northern Rock, but can't afford to increase the retirement pension even though we have paid into N.I. all our working lives. Someone somewhere is getting a nice little earner out of this. I wish it was me!!!!!

• Posted by: lorna69 • Report Comment

CARE TO ELABOURATE

07.08.08, 8:34pm

on your last point Brussels? When was the last time that Britain spent £24bn colonising another country?

• Posted by: ruhe03 • Report Comment

ONLY THE RICH ONES

07.08.08, 8:28pm

Exactly bluenote, what did our grandparents fight and march for? not a Labour party dressed in Tory clothes thats for sure. This capitalist Labour government has to abandone the discredited Milton Friedman free market economics beloved of Thatcher and get back to its roots.

• Posted by: brusselssprouts • Report Comment

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