News today shows that the market shares for beleaguered bank, Northern Rock, have dropped to their lowest value yet. A fall of 24% yesterday meant that each share was only worth 9.25p.
The reason? The news that the UK government may be close to deciding on the future of the bank.
Bets are on, and the favourite at the minute is that our PM, Gordon Brown with the Chancellor, Alistair Darling will decide to nationalise the bank.
That way they will be able to recover the £26 billion it has handed out in loans to keep Northern Rock afloat since last September.
Read the article Will Northern Rock be Nationalised?
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