Northern Rock: Celebrity magnet

If there is a problem and a government subsidy available for solving it, there are usually a lot of private sector participants willing to help out. Luqman Arnold is the latest financial hotshot to offer his expertise to Northern Rock, the stricken UK bank. The proposal from the former head of UBS and Abbey National joins celebrity-studded bids from buyout firm JC Flowers and Sir Richard Branson, as well as interest from Cerberus, another buyout house. The latest plan is for Arnold’s Olivant in...