Getting your player ready...
LONDON — The British Treasury said Monday that it would facilitate a sale of the troubled mortgage lender Northern Rock by converting a pool of the company’s assets to bonds for sale to investors.
Under the plan, created by the government and its adviser, Goldman Sachs, Northern Rock would sell government-backed bonds bundling a collection of home loans, unsecured consumer loans and some investment-grade securities to help repay about $49 billion it borrowed from the Bank of England last year.
