It seems like only yesterday that Northern Rock was teetering on the brink of extinction, baled out by a misguided Government with shedloads of public money.
Now, I understand, Northern Rock is finding it difficult to cope with the stream of new customers, flocking to open accounts because Northern Rock offers copper-bottomed Government-backed security. An institution whose fortunes have been reversed simply by Labour’s misguided precedent handling. One assumes that the orderly queue outside Northern Rock must be matched by a steady exodus from other less fortunate institutions.
Well done Labour. What a sad example of market regulation.