The government bail out that has been offered to Northern Rock stretches the meaning of ironic to breaking point. Why? You ask.
OK let me explain - in the last three years whenever I have been working with an insolvency practitioner to put together a rescue package for a business in difficulty or an individual debt problem there was one factor that would always blow the deal. You couldn't put forward an IVA or a CVA or any sort of a debt rescue package where Northern Rock was a creditor , they didn't even look at the merits of the deal they just said a blanket NO to everything. And when you asked their lawyer for justification in turning down a rescue package for some good little business they couldn't. At least they sounded embarassed to say "it's just the client's policy".
Not too embarassed to ask for a rescue package when they need one though are they...bastards!
Followers
Listening to/reading/watching
- Spooks, Heroes and Little Dorrit
- The Ascent of Money
- Fountains of Wayne, Dusty Springfield, Nickleback, Talking Heads
Cluster Map
Saturday, September 15, 2007
Subscribe to:
Post Comments (Atom)
Blog Archive
-
▼
2007
(222)
-
▼
September
(14)
- Telly duddies
- Plumbing New Depths
- The 45 minute rule
- Old Habits
- Occasionally Touring Restaurant Guide - The Fish a...
- It couldn't have happened to a nicer bank!
- Dirty Smelly and Dangerous!
- Lippy's Occasional guide to London Restaurants - T...
- Useless
- WI
- If you go down to the woods
- Hill Billies
- You are going to think badly of me
- Docklands
-
▼
September
(14)
3 comments:
I heard this the other day:- "Bankers are people who will lend you an umbrella when the sun is shining but want it back immediately when it starts raining"
How true
Don't lose your anger! Enjoy it while you can, because once they are rescued they will save money by shitting on their customers even more. They are bankers, after all.
Point noted.
Post a Comment