One of the first banks to collapse as the result of “irresponsible” banking practices was Northern Rock. The bank collapsed after it became known that the bank needed emergency funding from the bank of England in 2007. The treasurer at the time was a gentleman by the name of Keith Currie. According to the Daily […]
Remember Richard Branson and his nice visit to Christchurch and him hanging out with John Key and all during rugby. Here is Max Keiser’s and Stacey Herbert’s take on the man and his shenanigans!
By Andrew Porter, Robert Winnett and Edmund Conway Last Updated: 1:03am GMT 20/02/2008 Page 1 of 2 The bankers take the risk and the tax payers pay when it goes wrong. The cost of the Northern Rock crisis has reached the equivalent of £3,500 for every taxpayer as experts warned that the nationalisation rescue of the […]
LONDON, England (CNN) — Troubled British bank Northern Rock, which has been hit hard by the credit crunch, is to be nationalized UK finance minister Alistair Darling confirmed Sunday. Customers line up to withdraw cash from a Northern Rock branch during the height of the crisis. Darling, speaking at a hastily convened press conference in […]