The battle to sell stricken mortgage bank Northern Rock hit huge new difficulties this weekend when it emerged that favoured bidder Sir Richard Branson doesn\’t have a banking licence.
This has been talked about for what, 6 weeks, and only now is anyone saying that he doesn\’t have a banking licence?
More to the point, would he actually get one? Depends perhaps on how much weight the FSA puts on the various reports about him in Private Eye over the years. I\’m trying to remember, haven\’t they accused him of asset shuffling at times?