Bank failure – 10 years ago today

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Bank failure – 10 years ago today.

It was exactly ten years ago today on the 14th September 2007 that Northern Rock succumbed to the banking crisis. The Bank of England propped the lender up leading to the first run on a British bank in more than a century. We now know how this story panned out – not a good ending!

Here we are in 2017.  Are ‘things’ fixed ten years after the banking crisis? I would say not quite yet, with interest rates at historic lows and the economy still being propped with cheap money, it doesn’t look like ‘things’ are fixed to me.

More on this later…

 

 

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