Summary
Ihave a lot of sympathy for the shareholders and staff of Northern Rock, and for the people of the North East which so often seems a neglected region. Depositors have rightly been given protection, but shareholders have lost large sums of money which are unlikely to be recovered.
There is almost certain to be a reduction in the workforce.See the full content of this document
Extract
Panic, Secrets - and Your Pounds 100bn Risk
The bank may well have to be downsized, if only because of European competition regulations, but one can hope that a substantial bank will eventually be returned to the private sector.
This could preserve the majority of jobs and give some return to the shareholders.Such an o...See the full content of this document
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