Richard Branson buys Northern Rock

  Autoschediastic 17 Nov 11
Locked

A damn good move if you ask me from the VM group, looking into this takeover would this mean VM would in fact be getting into the housing market too?

  Autoschediastic 17 Nov 11

& here is the link i couldnt put on the forum before as the news was so new lol

Story Here

  Aitchbee 17 Nov 11

The figure of 747 million pounds - might be a 'working title' for VM's new acquisition! It's a big airplane, isn't it?

  anskyber 17 Nov 11

Fine, but Northern Rock (Asset Management) still owes £21 billion to the taxpayer so the sale, although welcome, is a relative drop in the ocean.

  morddwyd 17 Nov 11

Perhaps we should do what the Italians have done, and have a cabinet of industrialists and technocrats, with Branson as Chancellor, or perhaps Trade Secretary!

  Quickbeam 17 Nov 11

The midas touch from someone is needed at the moment.

  john bunyan 17 Nov 11

anskyber. Not sure where your 21 billion came from. I thought it was £1.4 Billion.See here:

http://money.uk.msn.com/banking/northern-rock-bought-by-virgin-money-what-it-means-for-you

  Aitchbee 17 Nov 11

If The new Virgin Money Bank (747) want me to move my money into their hands, then give me free mobile broadband or something similar.I have been with my current bank for 40 years. All banks are after your money.

  morddwyd 17 Nov 11

"All banks are after your money."

Like any other business, that's why they exist.

  Aitchbee 17 Nov 11

morddwyd - banks are not 'like any other business'.Government has rescued them, while other businesses have folded.

  Jameslayer 17 Nov 11

John Bunyan he is refering to northen rock trhe bit were they put all the bad debt.

The size of the potential losses contained in the bad bank part of Northern Rock is still uncertain and it still owes the Treasury £21bn.

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