Monday, September 17, 2007
Northern Rock’s Shares Keep Tumbling….
ANYBODY FANCY BUYING A BANK? "...Further fallout from the squeeze on credit could yet follow in the U.K. Northern Rock's rivals Alliance and Leicester and HBoS similarly rely on liquid credit markets, albeit to a degree that's "smaller in magnitude," Collins Stewart's Potter wrote in a research note Friday. But the anxiety's not limited to Britain. Spooked investors dumped shares in Spanish, French and German banks Monday. Northern Rock, in other words, may not be the last financial institution to find itself in a hard place...."