Thread: Northern Rock
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Old 18-02-2008, 11:50   #26
ntluser
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Smile Re: Northern Rock
Quote:
Originally Posted by iglu View Post
Golden Hello, Golden Handcuffs (you can demand this every year), Golden Good bye, lovely bonuses

Northern Rock has been a scam for long time, they gambled the lot and lost. The fat cats salaries cannot cover 50bn loss, that's 50 000 000 000 quid
True but it can act as a deterrant to others and it can make sure that those who took the decisions do not benefit themselves while their customers lose out.

Maybe there is a case for the Bank Of England issuing periodic warnings to financial institutions about the extent of a bank's bad risk loans granted so that losses are kept in check. The Bank Of England should be empowered to step in when the level of bad risk loans approaches those limits.
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