I heard the news today, (oh boy), that the Government are planning to sell off Northern Rock by the end of the year after splitting it up. One of these parts would stay with the Government and would be, in essence, a “bad bank”. I understand further that head-hunters were out looking to find someone to run this bad bank, which got me thinking.
Question. How do you run a “bad bank”? Oh, and also, who would be best to run a “bad bank”?
Presumably it can’t be a hard job running a bad bank. At the end of the year you go for your annual revue with Gordon / Darling:-
Andrew Montlake, Communications Director at Coreco and ‘Mortgage Personality of the Year 2008’, gives his views — honest and no holds barred — on the latest developments within the mortgage and property markets.
