Taxpayers' money tied up in Northern Rock is more at risk than first thought, the nationalised lender's chairman, Ron Sandler, has conceded, as the credit crisis threatens to undermine its restructuring, The Telegraph reports.
Appearing before the Treasury Select Committee yesterday, Mr Sandler admitted: "If house prices decline 5%, 10%, 15%, it would certainly put a great deal of stress on how we would deliver the plan. I don't want to pretend it is without risk and I don't think we should take anything for granted at this stage. "The key risks are what is happening in the wider economy. If we suffer a downturn and this leads to higher levels of unemployment, then this would place considerable strain on the ability of the company to deliver the plan." ALISTAIR DARLING LAUNCHED moves to repair Labour’s strai...
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