Saturday, September 22, 2007

Alternative perspective of the Northern Rock crisis

Stop blaming America for the woes

The British have been feeling pleased with themselves lately. The economy has been growing strongly, the City of London has outshone Wall Street in attracting business from overseas, sterling has risen above $2 and home owners have become a lot richer, at least on paper. So when it emerged that the Bank of England (BoE) had agreed to bail out Northern Rock, the mortgage bank, the first instinct of many was to blame foreigners - particularly US banks that made subprime mortgage loans.

Posted by ash4781 @ 07:24 PM (470 views)
Please complete the required fields.

Add a comment

  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user´s views and not the views of
  • Please adhere to the Guidelines

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>