Case of shake, rattle and Rock.

Financial Adviser, February, 2008

Byline: The Lib Dem Treasury spokesman, outspoken on Northern Rock, gives his opinion on the shake-up

Six months on and the financial markets and the wider economy are still reeling from the credit crunch. Whether they recover in a matter of weeks or years is still a moot point. One thing is certain though: we now need to ask how we can ensure that the UK banking sector is better prepared for future shocks.

We need to be clear that the collapse of the US sub-prime sector is not the reason why we saw the run on a UK bank for the first time in 140 years, rather it was the catalyst.

Northern Rock had been running a business model which was only sustainable in the most benign of credit environments and the shock of the credit crunch proved...

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