Wednesday 3 August 2011
Northern Rock Results today
Northern Rocks losses are a byproduct of tHe North East of England being dependant on Japanese firms since teh 1980s. Given recent events in Japan the reduction in teh supply of parts for their factories here and resultant job losses on top of reductions in the economy is to be expected. Previous reports on Northern Rock showed that it had since state ownership stopped its 125% mortgages and reinstated responsible lending based on the review of financial services and teh reform of the tripartite system.
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This is why there needs to be an English Parliament and improved transport links between London, Northern England and London and on to the continent, particuarly for freight.
ReplyDeleteIs it a job for banks or elected devolved governemnt bonds to produce infrastructure investment, I think the latter.
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