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.
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.
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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.
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