Mark1978:

Daniel306:Northern Rock's problems don't stem directly from them lending money to people who are now defaulting on their loans.... Two different things here and I wish people would stop with the misinformation.

 

Quite so. In fact Northern Rock enjoys a lower than average rate of defaulting on their mortgages, which in itself makes it an attractive proposition for a potential takeover. The problems at NR stem from the money they've been borrowing in order to fund the mortgages, NOT from the home owners who are paying them.

I'm glad someone here is willing to look at the facts rather than just getting caught up in the hysteria.