Nationalising Northern Rock Was The Right Move

Search Options	close
Search the following clips: All Clips

news science politics food economy art
technology health internet religion psychology

Sign Up Install Learn More Login


	Nationalising Northern Rock Was The Right Move

Forbes Markets

2-18-2008 5:23 PM

415 views

tags:

banking, u.k., northern rock, subprime mortgages

Forbes Markets says:

Financial Times' respected economics columnist weighs in with a typically sharply observed piece.

Add a Comment

Login to Comment. Not a member yet? Sign up

Today's Top Clips

visit the Top Clips page

View the Top Clips from February 18, 2008

Embed This Clip In Your Site...

<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/2972aa96-a8b3-432b-85c8-cc838dbe9ee6/9421A13B-9404-4C7A-B09D-17FCB7ACFC80/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.ft.com/cms/s/beacc3ba-dd82-11dc-ad7e-0000779fd2ac.html" href="http://www.ft.com/cms/s/beacc3ba-dd82-11dc-ad7e-0000779fd2ac.html" style="font-size: 11px;">www.ft.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ft.com/cms/s/beacc3ba-dd82-11dc-ad7e-0000779fd2ac.html"><P>Nationalising <B><A href="http://markets.ft.com/tearsheets/performance.asp?s=uk:NRK" symbol="uk:NRK">Northern Rock</A></B> was the right decision. It should have happened months ago. As soon as it became evident that the stricken bank could only survive with generous public sector guarantees, any so-called “private sector solution” was a mirage. This has finally become evident to the government itself, albeit far too late. </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ft.com/cms/s/beacc3ba-dd82-11dc-ad7e-0000779fd2ac.html"><P>Fortunately, many of the lessons of this debacle have already been learned. These are three: first, regulation of banks needs to pay far fuller attention to the management of liquidity; second, the deposit insurance system of the UK needs to be more generous; and, finally, the UK must have a special insolvency regime for troubled banks that guarantees insured depositors immediate access to their money.</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/9421A13B-9404-4C7A-B09D-17FCB7ACFC80/blog/" title="blog or email this clip"><img src="http://content7.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

New from the makers of Clipmarks: Amplify.com - Don't just share the news...Amplify it!

Clipmarks: Home; New Clips; Top Clips; Dashboard

Popular Topics: News; Life; Science; Technology; Entertainment

Get Started: Sign Up; Install Clipping Tool; How Clipping Works; Clip-to-Blog™; ClipSearch

Tools and Resources: FAQ; ClipWeek; Top Clippers; Top Tags; Site Map

About Clipmarks: About Us; Contact; Copyright; Privacy; EULA

Search Options

Today's Top Clips