Is the government being over aggressive at Northern Rock?
After using tax payers to bailout one of the weakest banks in the UK banking sector it now turns out that rather than going soft on customers, Northern Rock is actually hitting defaulters harder than anyone else in the sector. It has been revealed that Northern Rock has, and continues to repossess, 50% more homes that the sector average. So what is happening?
It seems that the government is more interested in sitting back and reclaiming tax payer's money than actually giving those who have hit trouble time to recover. It is a tactic which is sure to catch the headlines and there will no doubt be parties in agreement and those who disagree strongly.
It has taken a number of UK charities to highlight the matter but now that it is out in the open perhaps we can see some action to assist rather than hammer those who have hit trouble. After all the economy has and always will be the responsibility of the government in office so how they can take this approach with tax payers seems very unreal.
Are we to conclude that Northern Rock is struggling to repay the massive tax payer's loans? Or are we seeing a dangerous game of political points scoring?
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