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Would You Borrow $80bn From This Man ?
Mervyn King, the Governor of the Bank of England, has offered 3 month loans, in the sum of $80bn, to beleagured UK banks. But there are no takers.
Northern Rock - How A Problem Became a Disaster
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.
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