In order to prove my financial acuity, when Northern Rock fell to about 200p and the govt guaranteed its deposits, I bought £250 worth, believing it would bounce back. Its now down to 90p, and the news now is that its to be nationalised. My shares are now worth so little I hardly care, but this looks to be a disaster in the making, or rather in the continuing.
I can’t see the govt making a success of running a bank. I guess the people who gain from the mess will be the vast numbers of lawyers and auditors who will spend the next decade crawling over the carcass sucking out any blood that remains.