Northern Rock. It was split into two, one half took all the 'good assets' and the other the stuff you wouldn't...

[sandyRoe]

...touch with a bargepole. Will the directors of the bad half be paying themselves bonuses this year?

[Dris]

Im not sure if I understand this sandy but im interested.My mortgage is with NR and when the fan was hit I was advised by almost everyone to stay put as it was the safest place at that time to have a mortgage.Is that anything to do with what youre saying ?

[sandyRoe]

Northern Rock , where you have your mortgage, is as safe as houses. But I was referring to the part of the business that was set up to handle the less attractive loans. I was wondering if the board of that part of it, now a separate company, will be paying themselves big bonuses.

[Davethedog]

I think that all of those loans are gone now, that what the government money did.
NR was always soluble as its assets outweighed its liabilities, what it didn't have was enough liquid cash to get rid of the toxic liability.

All of those less "attractive loans" stemed from the subprime mortgage crisis.