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Hocking the Rock

机译:飞向岩石

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Can Gordon Brown, Moses-like, have summoned the storm that struck stockmarkets this week? Nothing less than a thunder-and-lightning extravaganza was needed to distract attention from the manifold shortcomings of his government's latest plan for Northern Rock. For four months ministers have dithered over what to do with the bust mortgage lender, victim of the worldwide credit crunch and its own recklessness, Stumbling along on a £26 billion ($51 billion) loan from the Bank of England and a £30 billion guarantee to depositors. Unable to find a private buyer with access to enough cash to take the bank off its hands, the government refuses to do the politically unpalatable thing and nationalise it. The plan announced on January 21st is the worst of both worlds, and mis-sold in the bargain.
机译:像摩西一样的戈登·布朗(Gordon Brown)是否可以召集本周袭击股市的风暴?要吸引人们注意力来自其政府针对北岩(Northern Rock)的最新计划的种种弊端,无所不包。四个月来,部长们对破产的抵押贷款人该如何做感到困惑,后者是全球信贷危机及其鲁victim的受害者,并从英格兰银行获得了260亿英镑(510亿美元)的贷款和300亿英镑的担保给储户。由于无法找到能够获得足够现金来将银行脱手的私人买家,政府拒绝将这在政治上不受欢迎的事情进行国有化。 1月21日宣布的计划是两全其美,并且在讨价还价中误售了。

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