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 mail this gentleman has been found dead in his house. According to “friends” Keith Currie was a happy go lucky guy with everything going for him but the same article mentions that he had become despondent about the fact that “ordinary” people had lost money in the collapse and that he had become and alcohol abusing recluse with a collapsed marriage.
Now I don’t know Keith Currie and I don’t proclaim to know anything about his banking career and his death but here are some other minor facts mentioned in the same article which make me wonder:
- He sold his shares before the collapse.
- He left in early retirement two months after the collapse with a total of £ 2.5 Million in bonuses because of “stress”.
- He was a the treasurer and as such played a key role in ensuring the bank had enough financing so he must have known (As his selling his shares before the collapse indicates) that there was something very wrong with the banks finances well before it collapsed)