Updates on Northern Rock

Northern Rock is in the center of attention again. This time, taxpayers are questioning Mr Darking's action for promising that invested money in the troubled bank will be guaranteed by the Bank of England. Hum... That is pretty strange. I supposed Mr Darling was under pressure from the public when Northern Rock asked the BOE for help (got £25 bullion in the end).

Well, after satisfying the call from investors of Northern Rock, taxpayers are asking whether their money will be well spent and returned in due course. Oh no, now Mr Darling is in the lime light again. I wonder how is he going to solve the problem. I guess he will come up with a plan. I think the media should not give him so much of a problem. This is because he has a difficult role and he needs time. Don't pressure him and give him more time to salvage Northern Rock.

As far as I know, there are potential buyers who wants to takeover Northern Rock at this moment. What the BOE can do is to sell Nothern Rock to another financial institution and ask the buyer to pay back taxpayer's money. Would the new buyer do it? It is questionable at this moment. £25 billion is a lot of money. You could buy a piece of a big island in the Pacific for £25 billion! Oh yes, you can. We will see about it then.

I really hope that the PM Gordan Brown will lend a hand to help Darling. After all, Tony Blair always gave Gordan Brown a hand when Gordan was the Chancellor (until their relationship fell apart towards the end of Tony Blair's tenure as UK PM). Help him Mr Brown!