Of course Northern Rock should make all their secrets public - just as soon as all the other banks that survive on OUR money do the same thing.
Banks borrow money from some punters to lend to other punters. Profits go to the shareholders, so none of the money in the bank is actually theirs - it's ours; on loan.
At least with NR some of the profits will get back to us as the Government is now the major shareholder.
For those saying we should know everything as we are the shareholders now - no, the Government is the shareholders on our behalf, just as pension and insurance companies are shareholders in other banks, on our behalf. Why don't the banks give us all their commercial secrets as we own them through our pension funds? Both arguments are as fatuous as each other.
I directly own a few shares directly in a bank, and I don't remember them giving me any secrets. (that's why they are secret!)
NR is now classed as a Gilt Edged company. Everyone seems to forget that the government already runs National Savings, and used to own the Post Office Bank. both considered safe but boring investments, and Gilt Edged (i.e. Government) shares are considered the safest investment possible.
The Money Programme on Sunday was saying that people will now start putting their money in NR as it is the only bank in Britain that is now guaranteed NOT to go bankrupt.
Trying to apply the FOI act is a deliberate attempt at sabotaging the rescue, at the cost of the bank's savers and mortgagees, for political point scoring.
Shame on the Tories, shame on you.