November 16, 2007
Time to nationalise Northern Rock? (FT.com)
FT.com – A small UK mortgage bank relies too much on wholesale funding and is hit by a liquidity crisis. The Bank of England has to step in. The year is 1994 and the institution in trouble is called National Mortgage Bank, but that rescue, and others like it, carry lessons for the Treasury and the Bank of England as they ponder what to do with troubled mortgage lender Northern Rock.



