Northern Rock insolvency deepens, BOE providing £13 Bn and demanding £2Bn + a week, Keith Currie, responsible for fancy funding schemes "ill" and ....

Northern Rock plc had had a further injection of £2.3 Bn. of taxpayers funds according to Simon Ward, of New Star Asset Management. This means that the Directors have fraudulently obtained loans totalling £13 Bn.from the public purse.

Company treasurer Keith Currie who has been with the company since 2005 has been absent for 2 weeks due to "stress".

The company website describes his job as ..."responsible for the management of the Company's Group Treasury function including liquidity, wholesale funding, derivative portfolios and the management of the Company's securitisation funding and covered bond programmes." So his fingerprints are all over the crooked schemes for fund raising which hit the buffers on August 12th ....

Meanwhile deputy treasury director, Carl Flinn, who is not a main Board Director has taken over his job. Which must cheer the bondholders enormously.

Can't wait for Mr Applegarth to explain all to MP's on Tuesday.