The UK government's mishandling of the liquidity problem at Northern Rock exacerbated matters. The episode demonstrates the failure of the tripartite regime and bodes ill for the future of the bank under nationalisation.
The UK Government has been severely criticised over the Northern Rock banking disaster. A consultative document has been issued which seeks to prevent any run on a UK bank in the future.
State-owned Northern Rock is set to offer great deals for savers in the coming months, however it is the bank’s existing 800,000 mortgage customers who are the bone of contention.
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Northern Rock And Bear Stearns - A Comparison