UK nationalises Northern Rock
With the stroke of a pen, the UK Labour Government takes us back to 3rd world thinking. Alternative offers from Virgin Money, and a management group were turned down in facour of a government takeover. A sad day for business.
Northern Rock is Nationalised
Alistair Darling will today introduce emergency legislation to nationalise Northern Rock after abandoning a five-month search for a private buyer for the stricken bank.
