Topic: $200 billion up in smoke.

mmarsh · February 27th, 2008

Del Boy

The Government had to intervene. Letting Northern Rock sink would have been disastrous as its the 8th largest bank in the UK. I am in the middle between socialism and capitalism (either extreme is bad) and am generally against nationalizing banks, especially in the case of NR because the banks woes was mostly due to its own incompetance and greed they deserved to go belly up.

But in the case of NR to let it collapse would have been an economic catastrophe, even the conservative party knows it -they just like taking a cheap shot at G.Brown but they would have done exactly the something.

Besides the nationalization is only temporary, G.Brown has said he will sell the bank the moment its out of financial dire straits.

And lastly the Iraq war is actually closing on $2 Trillion, so bailing out NR is a bargain in comparison.

February 27th, 2008
mmarsh Tribunus Laticlavius Gear	Del Boy The Government had to intervene. Letting Northern Rock sink would have been disastrous as its the 8th largest bank in the UK. I am in the middle between socialism and capitalism (either extreme is bad) and am generally against nationalizing banks, especially in the case of NR because the banks woes was mostly due to its own incompetance and greed they deserved to go belly up. But in the case of NR to let it collapse would have been an economic catastrophe, even the conservative party knows it -they just like taking a cheap shot at G.Brown but they would have done exactly the something. Besides the nationalization is only temporary, G.Brown has said he will sell the bank the moment its out of financial dire straits. And lastly the Iraq war is actually closing on $2 Trillion, so bailing out NR is a bargain in comparison. __________________ "My center is giving way, my right is in retreat; situation excellent. I shall attack." -Foch I get this question a lot. I am from NYC. I fly a French flag because I work for the Paris Office of a International company.