Only if the loans all go bad. If they don't the tax payer makes a tidy profit. On the other hand, I almost wish they'd let NR go to the wall immediately and just sold their loan book to the other players.
The most unedifying thing about the whole spectacle is the Conservative's response:
George Osborne: "nationalisation is a disaster"
BBC: "what would you have done instead?"
George Osborne: "not dithered, and er...Darling should have nationalised it sooner!"
#3063405, By bainbrge Northern Rock to be Nationalised
bainbrge 1,687 posts
Seen 1 week ago
Registered 11 years ago