NORTHERN ROCK

I note from the BBC that it is the deadline for Northern Rock bids to be in today. Along with one from Richard Branson’s Virgin group it is expected that these will include a bid from the existing management team. This is presumably the same team that helped get Northern Rock into the predicament that it currently finds itself in and needing to find a new buyer.

Is it just me that thinks that this is a bit of a cheek and that the application should be rejected out of hand? What makes them think that they can make a better job of it than they did previously, other than them being insulated by guarantees from the government with my money. Not me that’s for sure!