The Bankwatch

Tracking the consumer evolution of financial services

Bank of England bails out Northern Rock

A move that takes us back to the 80’s, with B of E bailing out a British Bank.  Can’t help but feel this is one of several across the world to come.  There was one earlier in Germany.

Northern Rock is bailed out by Bank of England – Times Online

In a rare move, the Bank of England agreed to throw the bank a lifeline and become the “lender of last resort”, effectively agreeing the first bailout of a British bank since money markets went into crisis over the summer.

Written by Colin Henderson

September 14, 2007 at 00:58

Posted in Profitability

2 Responses

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  1. I wonder how much email and the internet has played into the spread of panic among the bank’s customers.

    Trey Reeme

    September 17, 2007 at 12:06

  2. @Trey…. its true. When combined with the extreme daily coverage in all media, their is a certain amount of needless panic that has occurred above and beyond rational panic.

    Colin

    September 17, 2007 at 14:09


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