• 28 Jul 2009 at 10:32 AM

Still Waiting For Northern Rock

By Greg Michaels

Northern Rock.jpgTo the dismay of several hedge funds and many private investors, the value of at least one failed institution is still zero. SRM Global and RAB Capital Plc, which own 11.5% and 8.2% of the outstanding shares of the charter member of the UK’s nationalized portfolio, Northern Rock, lost an appeal today to get a valuation that looks like something other than a bagel for their collective 82 million shares. The same savvy investors that refused to sell their shares as N-Rock’s stock plunged during the second half of 2007 now contend that, according to their valuation models, they deserve more than £4/share for the government funded rescue. RBS shareholders finally have a group of people that can make them feel good about themselves.

Comments (9)

  1. 1
    Posted by guest | July 28, 2009 at 10:38 AM

    off topic but i just tried to post on going concern and it told me to log on.. why

  2. 2
    Posted by guest | July 28, 2009 at 10:44 AM

    still waiting on that heffer, julio

  3. 3
    Posted by guest | July 28, 2009 at 10:45 AM

    mmmmmmmmmmmmm…bagels

  4. 4
    Posted by guest | July 28, 2009 at 10:45 AM

    Haven’t we all learned by now to never get financially involved with a company that has the word “rock” in its name?

  5. 5
    Posted by guest | July 28, 2009 at 10:48 AM

    @4
    Fuck rocks, stones rule.
    -SS

  6. 6
    Posted by guest | July 28, 2009 at 10:58 AM

    The value of all British banks is zero.
    The value of Britain is roughly one Mexican Coke Shark, with bad teeth.

  7. 7
    Posted by guest | July 28, 2009 at 11:02 AM

    I have a secret to tell you, Joe Rogan… I smoke rocks!!!

  8. 8
    Posted by guest | July 28, 2009 at 11:26 AM

    @1
    They show lots of titty pictures on Going Concern.

  9. 9
    Posted by guest | August 3, 2009 at 11:17 AM

    A last the Government has come out and committed outright theft..no apologies. Just another form of taxation!!! When Is the payout? How do we collect?
    How can they take a bank OWNED by stockholders with impunity. This sounds a lot like Obama’s Government Motors.
    Who gets fired…
    Who makes money…
    It’s all at the hands of the politburocrats and those who line their pockets!
    Where will we go in the next potato famine???

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