This petition is now closed, as its deadline has passed.
We the undersigned petition the Prime Minister to actively support Northern Rock against pressure from the Treasury / FSA and the Bank of England to complete a "Fire Sale" at way below true long term market value of the company. More details
Submitted by Robert Bacon of Private Shareholder – Deadline to sign up by: 22 October 2007 – Signatures: 1,165
NR is not being “bailed out” by being lent money at the penal rate of interest being charged by the Bank of England. It should be reduced & no deadline imposed on the provision of support.
Any attempt to dispose of the company before the business is stabilised and financial markets have recovered from recent disruptions would not result in a fair price being offered.
What is in essence a very sound business might be sold for a pittance and that is not in the interests of anyone, whether it is shareholders, customers, employees, Government, or anyone else.
The Bank of England is itself to blame for some of the problems faced by the company because of its failure to support the Interbank Market and ensure that there was sufficient liquidity while other governments in other countries did offer such support.
We believe that it is wrong for any government, and particularly a socialist one, to encourage the destruction of an enterprise with 15,000 employees in the north-east of England.
Because there are so many signatories, only the most recent 500 are shown on this page.
Because there are so many signatories, only the most recent 500 are shown on this page.