By Rand Paul
Obama acts as though we no longer have a Constitution
Independent voices from the TWT Communities
Northern Rock plc (former London Stock Exchange ticker symbol NRK) is a British bank, best known for becoming the first bank in 150 years to suffer a bank run after having had to approach the Bank of England for a loan facility, to replace money market funding, during the credit crisis in 2007. Having failed to find a commercial buyer for the business, it was taken into public ownership in 2008. It is based at Regent Centre in Newcastle upon Tyne, United Kingdom. Formerly the Northern Rock Building Society, the bank was formed in 1997 when the society floated on the London Stock Exchange. Since 1 January 2010 the Northern Rock name has referred to two companies - this bank, Northern Rock plc, and a separate asset company, Northern Rock (Asset Management) plc. - Source: Wikipedia
LONDON (AP) — British Treasury chief Alistair Darling said yesterday that ailing mortgage lender Northern Rock would issue state-guaranteed bonds to repay billions in emergency government loans, asserting that a private-sector rescue without government help was impossible.