Between a rock and a hard place
Thursday, August 05, 2010
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Somewhat paradoxically, Northern Rock’s results this week were the reverse of what should have been expected: the part of the old Northern Rock that had been stripped out - the so-called “bad bank” posted a £350m profit overturning a loss twice as big as that last year; whilst Northern Rock plc (the “good bank”) made a loss of £140 million.
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