Ten out of Ten to our clever British Government on the Northern Rock acquisition. I wish i had their power for a while. Let us think about this for a moment.
First of all the Government turn a blind eye to the trouble Northern Rock are in. Keep quiet and it will go away.
Secondly, they sit back and watch all the investors lose the money they invested in the company, as the Share price of Northern Rock tumbles from a One time high of £12 down to around Ninety pence.
The Third trick they pulled out of the bag was to let us all think that a private investor would save the day. So far i have not heard any good reason as to why this did not happen.
This is the really clever move by our Government. They have taken over the running of the Bank. They are using the Tax payers money to keep it running. And within a few years when they have used our money to make the Bank profitable. They will sell it off making a huge profit.
The Government of the day will then state that they are using the profit to improve Schools and the Education system, the National Health system etc.
I have got a better idea. Why don’t the Government give the money back to the Tax payers who they have ripped off. Give us a Tax cut. At the stroke of the Chancellors pen, the British people might feel a bit better about the way we have been conned.