Thousands of Bad Loans Written Off As Rock Reveals Pounds 725m Losses [Edition 2]
Evening Standard - London › August 04, 2009
Linked as:
Summary
THE FULL extent of Britain's sub-prime mortgage crisis was laid bare today as Northern Rock today revealed yet more losses of almost Pounds 725 million.
The nationalised bank was forced to write off more than Pounds 600 million in bad loans as tens of thousands of borrowers struggle to repay mortgages.See the full content of this document
Extract
Thousands of Bad Loans Written Off As Rock Reveals Pounds 725m Losses [Edition 2]
Four out of 10 of its customers are in negative equity -- putting billions of pounds of taxpayers' money at risk.
The bank has axed more than 2,000 staff since hi...See the full content of this document
Sponsored links
