Interesting report published recently from the independent valuer of Northern Rock. He looks like he made a good, honest appraisal of how much NR was worth when the UK government took control and how much it would be worth now without government support. C and BAC are you listening?
The shareholders are predictably furious but I agree fully with most of what he says in the report - a bank without liquidity is worth nothing.
http://www.scribd.com/doc/30051240/Northern-Rock-2
No comments:
Post a Comment