The taxpayer lost out over Northern Rock because of five months of "drift" at the Treasury as the crisis unfolded, its most senior official said yesterday.
Sir Nicholas Macpherson said that with hindsight, efforts to effectively "bribe" private firms to buy the bank should have given way to nationalisation earlier. But he assured MPs there was sufficient expertise to ensure future disposals of state-owned bank assets would be done in a more professional manner.
We moderate all comments on HeraldScotland on either a pre-moderated or post-moderated basis. If you're a relatively new user then your comments will be reviewed before publication and if we know you well then your comments will be subject to moderation only if other users or the moderators believe you've broken the rules, which are available here.
Moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours. Please be patient if your posts are not approved instantly.
