Northern Rock (2)

Good to see that my ideas are being taken seriously by HM Government: on the front page of today's FT I read this ...

Among the options in yesterday's consultation paper was an administration system for insolvent banks...The proposals would allow administrators to sort out problems more quickly ... An administrator could take over client accounts, with depositors given higher priority [than] creditors. "This new regime would mean depositors are insulated from a bank that has failed, greater compensation for them, and certainty their compensation can be paid out quickly," Mr Darling said.

You read it here first!