Election 2010: Northern Rock re-mutualisation branded "crazy"

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The chair of the All Party Parliamentary Insurance and Financial Services Committee has described Labour proposals to re-mutualise Northern Rock as "crazy".

The attack formed John Greenway's final parting shot after almost two decades in the post, but is not the only part of the Government's policy to come in for criticism. Greenway, Conservative MP for Ryedale, is standing down at the upcoming Election due to boundary changes and local party differences, having represented the Yorkshire constituency since 1987. He believes the Government's manifesto plan to re-mutualise the state-owned bank, before yet another expected de-mutualisation, would be a mistake and a further kick in the teeth for its shareholders. "If you are a Northern Roc...

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