Written by queen mudder
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Topics: Northern Rock

Sunday, 7 October 2007

image for Rock 'could remain unrepentant'
Northern Rock:never saying sorry for all the mess

Shitty of London - (Embezzlement Mess): Northern Rock could stay unrepentant and even keep its current board of leeches according to reports in the City of London.

The troubled bank had been expected to be flogged off to a junk brokers either as a going concern or following a break-up.

But several shady fly-by-night US operators are trying to put together a package of £10bn of loans for the bank.

"That's on top of the £10 billion of UK taxpayers' money that Prime Monster Gorgon Brown pumped in to save Labour Party investments from going down the pan," said one report.

Northern Rock was forced to crawl on hands and knees for a bail out after a run on its coffers made the City lkook like the Beirut Stock Exchange collapse fiasco of the 1930s.

The sub-prime mortgage crisis in the US was hastily blamed for a decade of asinine incompetence by the Rock's CEO Adam Applecart, who was recently described by the IMF as Europe's biggest financial tosser since Nick Leeson - the Barings' trader who 'lost' £800 million in a disastrous punt on Euro futures.

"Northern Rock has been particularly hard hit because it's strategy of borrowing an unusually large proportion of its lending stash teeters on internationally accepted laws of fraud and embezzlement," the IMF source continued.

"Anyway, Northern Rock's board members should be sent to the slammer for scaring so many little old ladies about their funeral savings," the source added.

"We expect the bank to fold by the end of Ramadan."

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