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From The Socialist newspaper, 12 February 2008

Northern Rock

IF BRANSON'S Virgin group succeed in taking over Northern Rock, possibly 1,000 jobs, out of a 6,000 workforce nationally, could be lost. Virgin Money now claim that, in order to meet the government's three-year repayment deal, redundancies would be 'unavoidable'.

The government has been trying to give the collapsed Northern Rock away, offering multi-million support for the fat-cat capitalist firm that takes over.

Northern Rock should be run to meet people's needs, safeguarding both public money and workers' jobs. Virgin, like any capitalist firm, aims only for profits. No to job losses! Nationalise Northern Rock, along with all the major banks, and run them under a system of democratic workers' control and management.

Homes repossessed

MORE THAN 27,000 houses were repossessed by banks and building societies in Britain in 2007, the highest level since 1999.

Mortgage lenders warn that repossession numbers will almost certainly rise again in 2008 as the economy slows and the credit crunch snaps at more victims. Banks are getting fussier about who they lend to and are increasing the cost of credit to 'bad borrowers'.

129,000 borrowers are currently more than three months in arrears with payments. At this stage, it is nowhere near the same level of crisis as in the USA where more than 1% of American households were hit with some stage of repossession proceedings in 2007. But it is serious enough to make the Bank of England's recent 0.25% cut in base rates look puny.

Changing sides

KIM HOWELLS was, at the time of the 1984-5 miners' strike, a research official with the National Union of Mineworkers. Now a minister with Britain's foreign office, he has changed sides in the class struggle.

Recent pictures show Howell on a visit to Colombia along with that country's defence minister, a general who is linked to right-wing paramilitary death squads and soldiers from High Mountain Brigades, a Colombian army unit notorious for killing and torturing trade unionists. Since 1991, well over 2,000 trade union activists have been victims of 'extrajudicial killings'.

The director of the TUC-backed Justice for Colombia group attacked Howells for being photographed with assassins and torturers of trade unionists, pointing out that the British government is aiding Colombian military units that violate human rights.

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In The Socialist 12 February 2008:

Stop NHS privatisation now!


Local Government workers

Birmingham council workers' biggest strike for decades

'Single status' in the West Midlands

Bosses prepare to force through more cuts

Newham workers angry at councillors


Socialist Students

Uni Fees must be fought!

Feature: The great university swindle


War and terrorism

War and occupation in Iraq


Socialist Party news and analysis

Defend abortion rights

Millionaire welcomes economic recession!

Northern Rock

Liverpool's tale of two cities

Cardiff marches to save schools

100 people pack London world economy meeting


Transport

Cuts and backlogs cause delays

Tangled web at Metronet


International socialist news and analysis

Polish miners gain strike victory due to iron determination

Chad conflict - part of a wider power struggle


Interview

Prison officers: Fighting for trade union rights

Building the Campaign for a New Workers' Party


Comment

Comment: Opportunist blunder further splits Church of England


Workplace news and analysis

Land Registry staff vote for action

London Underground: Strike ballot in safety row

Campaign Against Climate Change trade union conference

Organise and fight back!

Shelter staff ballot for action


 

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Related links:

Northern Rock:

triangleTories flog bank assets to hellhound US profiteers

triangleThem & Us

triangleNationalise the banks

triangleTories and Labour fail to give 'Any Answers'

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triangleCapita in crisis: bring all outsourcers back in-house

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triangleWidening wealth gap, increase in poverty...make the fat cats pay

Britain:

triangleLiverpool Socialist Party: Political perspectives for Britain

triangleWaltham Forest Socialist Party: Young people and the fight for a future in austerity Britain

triangleNorth West Socialist Party conference

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