Richard Branson buys Northern Rock

  Autoschediastic 09:08 17 Nov 2011
Locked

A damn good move if you ask me from the VM group, looking into this takeover would this mean VM would in fact be getting into the housing market too?

  Aitchbee 22:08 17 Nov 2011

The government sold off Northern Rock at a loss of 400 million pounds. If I had seen it for sale at a charity shop, I might have bought it. I admire MR Virgin's bargain dexterity.

  morddwyd 12:16 18 Nov 2011

"other businesses have folded."

Eventually.

Governments poured tens of millions into the likes of Railtrack, British Leyland, British Steel etc. without even having any shares to show for it.

  Aitchbee 14:50 18 Nov 2011

Mr Virgin should also buy up, all the charity shops, in the land, now wouldn't that be an entrepreneurial 'Sale of the Century'.I think he might stop at seven hundred and forty seven.

  Pineman100 16:20 18 Nov 2011

AitchBEE - you might also like to consider that Northern Rock is currently offering one of the best interest rates for instant access cash ISAs.

Being with one bank for 10 years means nothing. What matters is protecting your cash as best you can from inflation.

  john bunyan 16:37 18 Nov 2011

Pineman 100 "What matters is protecting your cash as best you can from inflation." Apart from the (recently lapsed) National Savings scheme which tracked inflation, I do not know any bank or building society that even matches inflation - currently at around 5%. In all of them savings lose money! The alternative is risk in share type investment. I agree you need to try to lose as little as possible..

  Pineman100 18:08 18 Nov 2011

john bunyan - you are of course quite correct. I don't know of any instant/unlimited access deposit accounts that currently pay the rate of inflation. But if you're prepared to move your money around once a year you can do a lot better than leaving it an account for years. Most savings accounts over a year old are currently getting around half of one per cent.

Derisory!

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