Comments on: Troubling questions over Northern Rock http://lightwater.wordpress.com/2007/11/16/troubling-questions-over-northern-rock/ Lightwater issues, politics, Surrey Heath Borough Council, and stuff Thu, 12 Nov 2009 05:47:12 +0000 http://wordpress.com/ hourly 1 By: robertkyriakides http://lightwater.wordpress.com/2007/11/16/troubling-questions-over-northern-rock/#comment-4135 robertkyriakides Tue, 20 Nov 2007 11:07:41 +0000 http://lightwater.wordpress.com/2007/11/16/troubling-questions-over-northern-rock/#comment-4135 I can understand giving a government guarantee to secure consumer depositors (up to a specified amount) because that would be all that we need to do to maintain consumer confidence in the banking system. I cannot understand why I as a taxpayer should risk money in a business that I have never invested in and never wanted to invest in. It's now a mess and nationalisation seems the only way out of it, because having given the guarantee you cannot as I understand it walk away without having to cough it up. I can understand giving a government guarantee to secure consumer depositors (up to a specified amount) because that would be all that we need to do to maintain consumer confidence in the banking system. I cannot understand why I as a taxpayer should risk money in a business that I have never invested in and never wanted to invest in.

It’s now a mess and nationalisation seems the only way out of it, because having given the guarantee you cannot as I understand it walk away without having to cough it up.

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