Taxpayers Saddled with Rock's 'Rubbish' Assets
Evening Standard - London › February 20, 2008
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Summary
TAXPAYERS have been left with Northern Rock's "rubbish" assets because its safest mortgages were hived off before nationalisation, MPs claimed today.
A major part of the bank holding its gold-plated debt assets is not being taken into public ownership, the Commons was told.See the full content of this document
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Taxpayers Saddled with Rock's 'Rubbish' Assets
The riskiest debts including homeowners with "supersize" mortgages of 125 per cent are in the main part of the bank that is now being underwritten by t...
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