Cable Forum - Northern Crock 'run' could have been avoided

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Osem	13-06-2012 09:06

Northern Crock 'run' could have been avoided

So says the guy who ran the FSA which hardly covered itself in glory during the banking crisis:

Quote:

The run on Northern Rock could have been prevented, the outgoing chief executive of the Financial Services Authority (FSA) has told the BBC.

http://www.bbc.co.uk/news/business-18419434

Quote:

But he said the Bank of England governor, Sir Mervyn King, said the central bank would not provide the money, while Alastair Darling, the Chancellor at the time, said nothing.

Alan Fry

18-06-2012 10:30

Re: Northern Crock 'run' could have been avoided

But would have it still needed a bailout of Lloyds TSB in the process? (which they got anyway once it took over HBOS!)

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