I’m not sure how you reconcile “temporary national ownership” and “nationalize”, but it would a pretty safe place to put your money if it’s government backed. My understanding is that Northern Rock was lending out three times what it had in reserves, which is just under three times the national average. Levels of debt in the UK are said to be higher than the US, incomes are usually lower, house prices are very high, and lending practices somewhat lax. The UK, Ireland and Spain are all in for a rude awakening.
