Northern Rock to be dismembered, sold?

As Chancellor of the Exchequer Alistair Darling visited Newcastle on what's probably a "softening up" visit to Northern Rock, Robin Ashby was asked to comment for Tyne Tees TV on the proposal to divide up the bank and flog off the ongoing profitable bits.

He stressed that there had always been value in the bank, and this plan proves that to be the case. This should be recognised in the compensation to be paid for the shares which were confiscated from us. The so-called "impaired assets" could well prove to be profitable in the long term if the Government doesn't panic for short term political reasons.