
Prime Minister hints at nationalisation of Northern Rock
Gordon Brown has confirmed that nationalisation, with the aim of eventually turning the bank back over to the private sector, is an option being considered for Northern Rock. The Prime Minister also stepped up his involvement in the future of the bank, demanding personal updates from the Government's advisers at Goldman Sachs. At the extraordinary general meeting yesterday, Northern Rock's rebel shareholders failed to win key votes they hoped would block a fire sale of assets. SRM Global and fellow hedge fund RAB Capital also used the meeting to lay the blame for the crisis squarely with the Bank of England.