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Rock sells off £2.2bn mortgages to JPMorgan - Day after Blair Joins

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posted on Jan, 11 2008 @ 06:09 AM
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Rock sells off £2.2bn mortgages to JPMorgan - Day after Blair Joins


news.bbc.co.uk

Northern Rock has agreed to sell £2.2bn, or 2%, of its mortgage assets to US investment bank JP Morgan.

The troubled lender said it would use the funds to reduce the more than £25bn of emergency loans it has been given by the Bank of England.
Northern Rock said the price JP Morgan was paying represented a 2.25% premium over the value of the assets.

The lender first needed a loan from the Bank of England in September last year because of a global credit squeeze.
(visit the link for the full news article)


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posted on Jan, 11 2008 @ 06:09 AM
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My guess is that Blair and JPMorgan have been cooking this up for quite a while - isn't he supposed to be the mid east envoy?

what's he doing lining his pockets AGAIN - I swear he would scrabble in the streets for pennies if he could get away with it.
Now there's a thought - blair on the street with a cardboard sign round his neck - "ex-corporate sell out - only one private jet left, please give generously"

This bloke sickens me as much as shrub does.

Shameless money grubbing from alleged world leaders.

news.bbc.co.uk
(visit the link for the full news article)

[edit on 11/1/2008 by budski]



 
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