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South Shields premier political blog

Tesco interested in Northern Crock

with one comment

Tesco Value bankDon’t be fooled by Gordon Brown

Having nationalised what seems like half of our banking institutions during the crisis of a year ago, it is suggested that the unelected Scottish Prime Minister now wants to be seen looking like the great supporter of the free market and wishes to place at least one of these banks back in the hands of private ownership before the next election.

Northern Crock is the bank of choice, but the government has been at it with a carving knife, it is no longer the gargantuan leviathan that it once was, but the toxic assets of it’s mortgage books will remain in public hands, nobody wants them. It’s retail arm will be sold off to save Gordon’s blushes, particularly as we all know that bank lending is fully recovered -NOT!

Tesco appears to be one of the front runners in buying the Rock, but don’t let that fool you into thinking that Gordon has thrown away his socialist convictions, the East Coast Rail Service looks as though it’s about to be nationalised.

Oh well, as MPs lose their seats on one gravy train they may as well guarantee them in another!

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Written by curly

July 1, 2009 at 8:18 am

One Response

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  1. Technically the government already owns the routes as they are run under franchise, so they are already ‘nationalised’. The function of running the routes is privatised. Surely if the franchisee is failing in it’s obligations then it makes good business sense to take the franchise back until you can find a replacement. The big fast food chains do it all the time. Or would you prefer passengers to be left in the lurch when the franchisee shuts up shop?


    July 1, 2009 at 7:53 pm

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