Cable calls for N Rock share trade block

Cable’s warning follows news the beleaguered bank has chosen a consortium led by Sir Richard Branson’s Virgin Group as its preferred bidder. Cable says it is “by no means certain” the Virgin bid will be given the green light and says the Government should look at temporarily nationalising the bank. “Trading in Northern Rock shares should be suspended, as enormous positions are being taken on by the spivs and sharks in the City at the expense of the small shareholder,” he says. “The Virgin Group is only offering to pay back £11bn of taxpayers’ money immediately and the other £13bn of o...