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Cameron hits out over bank crisis
The government is to blame for the crisis which has hit Northern Rock, says the Tory leader.
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Tags: american, authority, bank, bbc, borrowing, business, cameron, citigroup, credit, crisis, damage, deposits, earnings, emergency, failings, financial, financial services, find, fsa, funding, global, government, help, interest, international, legal, legalbeagles, money, mortgage, mps, northern rock, rates, shares, tomorrow, treasury committee -
Banking crisis: The fear spreads
The Government made an unprecedented intervention in the Northern Rock crisis yesterday by publicly guaranteeing all the bank's deposits. The intervention, by the Chancellor, Alistair Darling, capped a dramatic day that had seen further mass queuing outside Northern Rock branches and billions wiped off banks' shares on fears of contagion.
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Penalty charge by Bank 'will plunge Northern Rock into loss'
The penal rate of interest that the Bank of England is charging Northern Rock for emergency funding is likely to plunge the mortgage bank into losses this year, according to one of its leading shareholders.
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Re: Penalty charge by Bank 'will plunge Northern Rock into loss'
Extorbitant interest rates when they can least afford to pay them.
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Northern Rock's borrowing from Bank passes £10bn
Northern Rock has taken its borrowing from the Bank of England above £10bn, it emerged last night, with the bank hiring the American giant Citigroup to help find a market solution to its funding crisis.
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Re: Northern Rock's borrowing from Bank passes £10bn
Talk about out of the frying pan into the fireOriginally posted by Legal Beagles View Post
http://www.legalbeagles.info/forums/...ead.php?t=2450
A major global bank has declared the full extent of the damage caused by the international credit crisis
http://money.uk.msn.com/investing/ar...mentid=6291917
News has emerged that Citigroup has suffered £2.93 billion of writedowns and losses due to the credit crunch. The expected 60% fall in third-quarter earnings has prompted some to call for the resignation of Citigroup chief executive Chuck PrinceComment
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MPs to quiz FSA chiefs over crisis at Northern Rock
The House of Commons Treasury Committee will quiz the heads of the Financial Services Authority tomorrow as it gears up to question the Chancellor, Alistair Darling.
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FSA chiefs admit to failings in Northern Rock crisis
The heads of the Financial Services Authority yesterday admitted to failings in their supervision of Northern Rock as questions by MPs exposed differences between the regulator and the Bank of England.
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