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Sunday, January 18, 2009

It was just a matter of time...

...before Gordon Brown and the Labour Party, decided they were going to use Northern Rock for political purposes.

The up to the minute word I plunked from the blog site, Calculated Risk, states that the Telegraph, a British newspaper, is reporting that The Labour Party will be forcing their state owned bank, Northern Rock, to issue more mortgage loans.
http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/4285088/Banks-bail-out-Taxpayers-may-take-shares-in-Barclays-and-HSBC.html

Didn't they just nationalize Northern Rock because they were giving bad loans and was about to go under? Hence, the UK government had to bail them out by nationalizing it?

It took him long enough...UK elections are in 2009 before September. Count on it.
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