Just breaking, The stricken incompetent bank Northern Rock is to be Nationalised according to the BBC. Despite efforts to sell it to a private bidder, the likely choice been Virgin Money it appears the only option is to nationalises it!
This is the first nationalisation since 1970 and ministers felt it was the only option. Northern Rock is continuing to be held up with Tax payers money. Ministers "felt that the offers on the table did not offer enough to the taxpayer" said Robert Pestons, BBC's Business editor
You can read more here at the BBC
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