Nationalisation: it might just work

Predictably, the knives are out for Alistair Darling and the UK government for nationalising Northern Rock. But most of the criticisms are hollow. All along, the government has done pretty much the sensible thing in very difficult circumstances. It is a pity the Virgin deal did not come off, but the government’s plan to nurse Northern Rock back to health itself should not be dismissed out of hand.

  • 19 Feb 2008

So much rubbish is written and talked about Northern Rock that clearing it away is like trying to cleanse the Augean stables.

Nearly all the sermonisers, doomsayers, placard-wavers and armchair experts railing at the behaviour of the various parties involved have changed their tune as the crisis evolved. Few ...

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