Banking (Special Provisions) Bill

Part of Orders of the Day – in the House of Commons at 6:48 pm on 19th February 2008.

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Photo of Jim Cousins Jim Cousins Labour, Newcastle upon Tyne Central 6:48 pm, 19th February 2008

Does the hon. Gentleman acknowledge that almost half the assets of Northern Rock are in a securitised vehicle that has several more years to run? If we attempt to realise those assets in the short term, we will dump them at far less than they are worth—or we have to live with this until that securitised vehicle comes to the end of its life.