Running a bank?

I wonder if the BoE and the FSA have been reaading the back pages of Private Eye these past few decades?

2 thoughts on “Branson?”

  1. By latest press reports, Northern Rock is now borrowing £13bn from the Bank of England on the strength of Treasury backing for the loan in case of default. The Treasury has also guaranteed cash deposits in Northern Rock.

    All that means is that UK taxpayers are now at risk if Northern Rock comes unstuck so Richard Branson is most welcome to take on all those risks instead – but I doubt that is what he is offering to do.

    The reported reluctance of a string of big banks here and in mainland Europe – notably lead by Lloyds TSB – to take on NR speaks volumes about its fragility as an investment proposition.

  2. Whatever Private Eye has to say about him, seems to me you aren’t going to risk printing it on this blog, is that about right?

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