From the article: “However,

[patientlywaiting]

From the article:
“However, critics said that the temporary nationalization proposed by the government could last years as Northern Rock’s new management seeks to pay back around 55 billion pounds ($107 billion) via loans from the Bank of England and deposit guarantees.”

http://news.yahoo.com/s/afp/20080218/wl_uk_afp/britainbankingnationalisationcompany_080218132113?
“It has since borrowed an estimated 26 billion pounds from the British central bank, although media reports have put the actual liability to taxpayers at 55 billion pounds or
higher.”

*

Looks like that one bank is losing just about the amount that all US banks have written off so far.

It’s unclear how much the UK gov’t will be able to sell Northern Rock for but it’s gonna be a big chunk for the taxpayers to absorb.

To put it into context the US stimulus package will cost $168 billion. Nothern Rock alone is cost the brits $107 billion or 64% of the stimulus package.