BUSINESS / POLITICS: Northern Rock share prices fall following low bids to buy the company

Chancellor, Alistair Darling, has defended bailing out Northern Rock, saying he wanted to protect the interests of depositors and taxpayers when considering the future of the bank. As the Treasury admitted that some of the £24 billion in emergency loans may never be repaid - the Conservatives accused Mr Darling of incompetence and confusion. Shares in Northern Rock tumbled more than twenty percent today as it emerged that the rescue bids received so far are well below its market value.

ITN Source | November 19, 2007