Gordon’s Black Wednesday£11,169,591,442 on September 19, 2007

As these official Bank of England statements reveal, the bank’s liabilities went up £11,169,591,442 on Wednesday September 19, 2007. This was Gordon’s Black Wednesday.

How much will the taxpayer lose in Northern Rock? With recession coming and for the first time since the 1991 negative-equity disaster, three consecutive months of recorded falls in property prices, it is not looking good. The total level of public support is “confidential”, but we can assume it is now £30 billion.

click to enlarge
Northern rock has de facto already been nationalised, it now looks increasingly like that this will soon be formalised. Is it any wonder why the “economic competence” poll ratings for the Labour party have collapsed to levels not seen since before the 1992 ERM debacle. The nationalisation of Northern Rock was not in the national interest, it was in the narrow interest of Labour to protect their North East heartland votes. It is not a great bargain…



Tip offs: 0709 284 0531
team@Order-order.com

Quote of the Day

Rowan Atkinson tells The Times

“All jokes about religion cause offence, so it’s pointless apologising for them. You should really only apologise for a bad joke. On that basis, no apology is required.”

Sponsors

Guidogram: Sign up

Subscribe to the most succinct 7 days a week daily email read by thousands of Westminster insiders.
Fry, Hislop, Merton &Guardian All Mocked Burka Fry, Hislop, Merton &Guardian All Mocked Burka
Corbyn’s Home Pranked By Jewish Activists Corbyn’s Home Pranked By Jewish Activists
Rowan Atkinson on Boris Rowan Atkinson on Boris