The Bank of England knew Northern Rock was technically insolvent some time in August. There should have been an intervention by the Central Bank back then, together with a deposit guarantee by the Treasury and a forensic accounting investigation by the FSA as banking regulator. 5 months ago.
Bah. We have met the enemy, and he is us — Pogo
Does anyone believe it won't be?
I wonder how much of the loan will be disappeared once it's handed over to the Treasury?
ThatBritGuy:
