£720 million

[devonwoody]

It was reported that Mr.Branson and virgin whatever have purchased Northern Rock from the government.

Where do you think they got the money from, (the banks havent got any money) do you think he has borrowed it from the government?

I think I would have come out of retirement and bought NR if that was the deal, would'nt you? (it reminds me of those Russian blokes who got those Russian assets cheap, and they now own football clubs etc. all round the world etc.)

NR could pay me a directors fee of 200million per year and I could happily pass down the work load to a minion for around £30K per annum. I wish I was 25 again! :wink:

or should I go and camp at St. Pauls?

 

[Lons]

I'd shake the mothballs out of your tent DW :lol: :lol:

 

[LuptonM]

There's a reason big investment banks have DCM and ECM departments.

 

[RogerS]

dw...there are several good articles in the FT that explain it all.

 

[Jonzjob]

DCM & ECM?

I know that ECM is electronic counter measures, but DCM?

Knowing the people in this lot they probably do have the ECM I know?

Richard B probably borrowed the money from Greece? I heard a rumour that somebody is going to give them a few suitcases full?

 

[LuptonM]

ECM= equity capital markets

DCM= debt capital markets

Equity would be things like issuing shares

Debt would be things like bonds and loans

I think this is were they make their money in the BB banks since they give merger and acquisition advise for free.
The boutique IBs charge for the advice but since they do not issue debt or equity they can remain conflict free

 

[Jonzjob]

It's times like this that I'm glad I'm thick as far as it's concerned

Ta for the explanation though :mrgreen: