Comments on: Northern Rock again: why Granite isn’t that hard http://www.johnband.org/blog/2008/02/20/northern-rock-again-why-granite-isnt-that-hard/ The idle musings of John B Mon, 02 Jan 2012 17:27:31 +0000 http://wordpress.org/?v= hourly 1 By: Banditry » Blog Archive » We write letters http://www.johnband.org/blog/2008/02/20/northern-rock-again-why-granite-isnt-that-hard/comment-page-1/#comment-97425 Banditry » Blog Archive » We write letters Sun, 14 Jun 2009 12:04:57 +0000 http://www.johnband.org/blog/2008/02/20/northern-rock-again-why-granite-isnt-that-hard/#comment-97425 [...] Nick Mathiason should read the article I wrote on Granite last February before writing any more pieces that mention Northern [...] [...] Nick Mathiason should read the article I wrote on Granite last February before writing any more pieces that mention Northern [...]

]]> By: Nationalisation news - Page 2 | hilpers http://www.johnband.org/blog/2008/02/20/northern-rock-again-why-granite-isnt-that-hard/comment-page-1/#comment-82806 Nationalisation news - Page 2 | hilpers Sun, 18 Jan 2009 18:19:31 +0000 http://www.johnband.org/blog/2008/02/20/northern-rock-again-why-granite-isnt-that-hard/#comment-82806 [...] accounts do). I've written a piece on that one on my blog [hope the plug doesn't offend anyone] http://www.johnband.org/blog/2008/02...snt-that-hard/ -- John Band john at johnband dot org [...] [...] accounts do). I’ve written a piece on that one on my blog [hope the plug doesn't offend anyone] http://www.johnband.org/blog/2008/02…snt-that-hard/ — John Band john at johnband dot org [...]

]]> By: Tories: Unserious « Alternate Seat of TYR http://www.johnband.org/blog/2008/02/20/northern-rock-again-why-granite-isnt-that-hard/comment-page-1/#comment-29564 Tories: Unserious « Alternate Seat of TYR Sun, 24 Feb 2008 18:11:09 +0000 http://www.johnband.org/blog/2008/02/20/northern-rock-again-why-granite-isnt-that-hard/#comment-29564 [...] Tories: Unserious Posted February 24, 2008 John Band has some thoughts about Northern Rock. So do I; more precisely, I have some thoughts about the Tories’ performance in the crisis. It’s been appallingly silly, irresponsible, and sometimes plain ignorant. [...] [...] Tories: Unserious Posted February 24, 2008 John Band has some thoughts about Northern Rock. So do I; more precisely, I have some thoughts about the Tories’ performance in the crisis. It’s been appallingly silly, irresponsible, and sometimes plain ignorant. [...]

]]> By: TrevorH http://www.johnband.org/blog/2008/02/20/northern-rock-again-why-granite-isnt-that-hard/comment-page-1/#comment-29481 TrevorH Sat, 23 Feb 2008 21:18:39 +0000 http://www.johnband.org/blog/2008/02/20/northern-rock-again-why-granite-isnt-that-hard/#comment-29481 "why HMG are buying us all a bank?" ... its to hide the fact that Gordon Brown's 1997 restructuring of banking regulation was a crock of shit. “why HMG are buying us all a bank?” … its to hide the fact that Gordon Brown’s 1997 restructuring of banking regulation was a crock of shit.

]]> By: David Duff http://www.johnband.org/blog/2008/02/20/northern-rock-again-why-granite-isnt-that-hard/comment-page-1/#comment-29379 David Duff Thu, 21 Feb 2008 17:10:31 +0000 http://www.johnband.org/blog/2008/02/20/northern-rock-again-why-granite-isnt-that-hard/#comment-29379 An interesting 'blame-game' and 'mea culpa' to be read here: http://blog.iii.co.uk/the-northern-rock-blame-game/?campaign=newsletter0001&link=northern_weeklyalert_268_200&cp_c=v43vnz An interesting ‘blame-game’ and ‘mea culpa’ to be read here:

http://blog.iii.co.uk/the-northern-rock-blame-game/?campaign=newsletter0001&link=northern_weeklyalert_268_200&cp_c=v43vnz

]]> By: nightjack http://www.johnband.org/blog/2008/02/20/northern-rock-again-why-granite-isnt-that-hard/comment-page-1/#comment-29378 nightjack Thu, 21 Feb 2008 17:05:11 +0000 http://www.johnband.org/blog/2008/02/20/northern-rock-again-why-granite-isnt-that-hard/#comment-29378 OK, I get it, Granite just a tax efficient way for NR to get the cash now and slip the risk elsewhere. What I don't get at all is why HMG are buying us all a bank? What's wrong with letting it collapse? Its just a bank. OK, I get it, Granite just a tax efficient way for NR to get the cash now and slip the risk elsewhere. What I don’t get at all is why HMG are buying us all a bank? What’s wrong with letting it collapse? Its just a bank.

]]> By: John B http://www.johnband.org/blog/2008/02/20/northern-rock-again-why-granite-isnt-that-hard/comment-page-1/#comment-29375 John B Thu, 21 Feb 2008 15:11:38 +0000 http://www.johnband.org/blog/2008/02/20/northern-rock-again-why-granite-isnt-that-hard/#comment-29375 Granite's debt is not part of the taxpayer's exposure. The repurchase programme is. You're implying that there is some inconsistency in Yvette Cooper's position from saying the former. This is silly. Granite’s debt is not part of the taxpayer’s exposure. The repurchase programme is. You’re implying that there is some inconsistency in Yvette Cooper’s position from saying the former. This is silly.

]]> By: Guido Fawkes http://www.johnband.org/blog/2008/02/20/northern-rock-again-why-granite-isnt-that-hard/comment-page-1/#comment-29372 Guido Fawkes Thu, 21 Feb 2008 15:06:20 +0000 http://www.johnband.org/blog/2008/02/20/northern-rock-again-why-granite-isnt-that-hard/#comment-29372 I may well be the biggest idiot in blogland, but where do I posit anything more than that the guarantee is of ".. all obligations of Northern Rock plc to make payments on the repurchase of mortgages under the documentation for the 'Granite' securitisation programme." Which isexactly what you confirml, what the Treasury said and what I understood. I may well be the biggest idiot in blogland, but where do I posit anything more than that the guarantee is of “.. all obligations of Northern Rock plc to make payments on the repurchase of mortgages under the documentation for the ‘Granite’ securitisation programme.”

Which isexactly what you confirml, what the Treasury said and what I understood.

]]> By: Andy Dunning http://www.johnband.org/blog/2008/02/20/northern-rock-again-why-granite-isnt-that-hard/comment-page-1/#comment-29367 Andy Dunning Thu, 21 Feb 2008 14:14:32 +0000 http://www.johnband.org/blog/2008/02/20/northern-rock-again-why-granite-isnt-that-hard/#comment-29367 John, there was a third Granite deal in 2007 (Granite Master Issuer 2007-3) which priced in September when the shit was already hitting the fan, both for NRK and the securitisation market as a whole. It was for £5bn, had maturities from 1 to 3 years and was retained by the bank to use as collateral at the BoE's emergency funding window. John, there was a third Granite deal in 2007 (Granite Master Issuer 2007-3) which priced in September when the shit was already hitting the fan, both for NRK and the securitisation market as a whole. It was for £5bn, had maturities from 1 to 3 years and was retained by the bank to use as collateral at the BoE’s emergency funding window.

]]> By: Mark Wadsworth http://www.johnband.org/blog/2008/02/20/northern-rock-again-why-granite-isnt-that-hard/comment-page-1/#comment-29366 Mark Wadsworth Thu, 21 Feb 2008 13:56:59 +0000 http://www.johnband.org/blog/2008/02/20/northern-rock-again-why-granite-isnt-that-hard/#comment-29366 Well, if it's option A, then from NR's and the taxpayer's point of view, this is excellent news! If NR could only flog off all its mortgage assets for cold hard cash for 93% of their face value, then that would be A Good Thing. Well, if it’s option A, then from NR’s and the taxpayer’s point of view, this is excellent news!

If NR could only flog off all its mortgage assets for cold hard cash for 93% of their face value, then that would be A Good Thing.

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