Northern Rock

"investors shouldn't be concerned [Northern Rock] say; gee that'll work."

I hate to say I told you so, nah sure I do. So the both the BBC and GMTV show us queues of people outside of branches of Northern Rock, well actually they both showed us a queue outside of one branch at Kingston-on-Thames. A cynical person might wonder if that was the closest branch to their studios, but of course I'm not that person.

The current chancellor Whosisname decided to go for the soft option and appear on the GMTV sofa to face those challenging questions. Quite amusing when Fiona did fire some off (later she revealed she had a mortgage with... guess who?). 'Isn't it the fault of banks lending out money at 5 times annual salary, 120% mortgages; why should we as taxpayers bail them out?'

No no no it's a loan, the BoE are loaning them the money. Uh-huh and if Northern Rock goes down they (we) get the money back how exactly?