Northern Rock shares, have risen 10% this morning, whilst Alliance and Leicester have risen 21% and the Bradford and Bingley have also made up for some of their losses as well.
That is a bit of good news. The Northern Rock is still worth a small fraction of what it was 12 months ago, but at least its shares have stopped falling like a stone. The other two have not made back all their losses of yesterday but at least the rot appears to have stopped for now.
The downside it that some people are still queuing to get their money out of Northern Rock. Trust in government is clearly at a very low ebb.
The BBC has this.
PS forgot to publish yesterday. Doh!
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An old chap who was in the NR queue was interviewed on Sky and he said, "If a politician told me it was raining I'd go out and have a look". - That's what makes Britain great!
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