Article: ANALYSIS: Joe Public loses out as bonus row rages.

Amid the noise surrounding the bankers' bonus row two things strike me.

First, Northern Rock has reportedly become the first choice for bonus- fuelled borrowers.

Having launched a range of best buy deals for loans up to #1m it is willing to take a significant percentage of a bonus into account rather than requiring evidence of a consistent bonus history.

I appreciate it has government targets to achieve but doesn't this smack of the bad old days when the Financial Services Authority is pushing responsible lending? If it secures a chunk of bonus-related mortgages it will only take a few to go wrong to have a negative impact on its balance ...

Related newspaper, magazine, and journal articles:

 
 
Newsweek Harper's Magazine The Washington Post Chicago Tribune Crain's Chicago Business PRNewswire Pediatric News The Nation Advertising Age The Economist (US) A FREE trial gives you access to over 80 million articles! Access over 6,500 publications with a FREE trial!