Sunday, February 17, 2008

British Rock

So, they've nationalized Northern Rock.  £110 billion, or £3,500 for every taxpayer.  And what assets does the taxpayer get in return?  That's a very good question.

Whatever the political rhetoric over the next few days, I can't help wondering why the UK can nationalize a bank but could not rescue a manufacturing kingpin that provided thousands of jobs to honest hard working people.  In fact there are some who claim that the government actually helped to hammer the nails into the coffin of "the Rover".