If we had joined the single currency as promised, would the European Union have allowed billions of euros to be used to prop up a badly managed business?
I think not, and quite rightly so.
Those who ran Northern Rock should be made bankrupt, struck off from ever being in charge of any other company or firm and asset-stripped.
Investors and mortgage borrowers should be covered by insurance and their monies and loans transferred free to another, better operated bank or building society.
It makes you wonder yet again if it is yet another case of the government being bullied by those who have interests in Northern Rock. For example, I read there was a connection between the Bank and Persimmon Homes. Persimmon being the largest house builder in the country. Was it also behind advising the government that we need hundreds of thousands of new homes?
Perhaps this is a case for investigator MP, Norman Baker. At least he is not scared to have an opinion or be suspicious of all things political. We need more like him.
Richard Grant
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