"“We have lent a huge amount of money to the U.S. Of course we are concerned about the safety of our assets. To be honest, I am definitely a little worried.” "

Chinese premier Wen Jiabao 12th March 2009

""We have a financial system that is run by private shareholders, managed by private institutions, and we'd like to do our best to preserve that system."

Timothy Geithner US Secretary of the Treasury, previously President of the Federal Reserve Bank of New York.1/3/2009

Saturday, October 13, 2007


This is the letter from the bearded jersey on the Virgin Money website (t/o £70Mn. Trading profit £14 Mn.) who wants the shareholders to ;

1. Accept a "whitewash" - waiving their rights under Rule 9 of the Takeover Code, which requires a bidder to make a takeover offer for the whole company.

2. Be re-branded Virgin Money because Northern Rock is a "Damaged Brand"

3. Put in his own management to run a company with nominally £114 BILLION worth of assets ad 6,000 staff.

4. Rustle up £20 Bn (and rising) to relieve the taxpayers liabilities.

...well you have to admire the guy's chutzpah , but not perhaps, the media's ability to undertake some relatively simple arithmetic.


billio said...

Postman Patel
Is this a unofficial strike ?.
I can just imagine you sitting around a brazier in Rochdale. :-)

Anonymous said...

Missing your daily contributions............

paul said...

Don't you realise the inconvenience you're causing??!!!?

Shutter said...

Normal service has been (just about) resumed.

(C) Very Seriously Disorganised Criminals 2002/3/4/5/6/7/8/9 - copy anything you wish