Northern Rock risk revealed in 2004
Posted: Sat May 30, 2009 12:59 pm
The bastards have known what was likely to happen they just chose to ignore all the warnings. Never mind just prosecuting MP's with imaginary mortgages we should sack tne government-take away their pensions and bring in a new offence of gross incompetence and stupidity especially for dickheads like gordon brown.
FT.com / UK / Business - Northern Rock risk revealed in 2004
Mervyn King, Bank governor, alluded to the war games in a 2005 interview with the FT, saying the Bank had looked at a situation in which “there could be a problem in a particular institution which isn’t terribly big, which may for completely unpredictable reasons turn out to pose a liquidity problem to a very big institution.
But until now no one has known the name of any banks used in the exercise. The Financial Times sought details in early April under the Freedom of Information Act from the Bank and the Treasury, but those requests have so far been unsuccessful.
Maybe they should have called it the freedom of information act apart from those bits we don't want you to know about-seems it never occurred to them that people might want to find out what they're up to.
FT.com / UK / Business - Northern Rock risk revealed in 2004
Mervyn King, Bank governor, alluded to the war games in a 2005 interview with the FT, saying the Bank had looked at a situation in which “there could be a problem in a particular institution which isn’t terribly big, which may for completely unpredictable reasons turn out to pose a liquidity problem to a very big institution.
But until now no one has known the name of any banks used in the exercise. The Financial Times sought details in early April under the Freedom of Information Act from the Bank and the Treasury, but those requests have so far been unsuccessful.
Maybe they should have called it the freedom of information act apart from those bits we don't want you to know about-seems it never occurred to them that people might want to find out what they're up to.
:(:(