Darling: I did not reject advice over Northern Rock rescue

The former Labour Chancellor said it was an "academic question" of whether a takeover from Lloyds - aided by a Bank of England loan - could have prevented Northern Rock's collapse because such a rescue deal was never even tabled back in 2007, reports The Times. Darling's comments come on the back of outgoing Financial Services Authority (FSA) chief executive Hector Sants saying the government refused to back a rescue deal which would have seen the Bank of England provide a £30bn loan to Lloyds to allow it to buy Northern Rock. But according to the former Chancellor, Lloyds "never put ...