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Lipsey & Chrystal: Economics 11e

Chapter 20

A crisis for the UK banking system broke out in September 2007 when there was a run on the deposits at Northern Rock.  The Government eventually took the bank into public ownership.  The following gives a time line of events:
BBC, Tuesday, August 5, 2008
http://news.bbc.co.uk/1/hi/business/7007076.stm
The regulatory failure is discussed in:
BBC, Wednesday, March 26, 2008
http://news.bbc.co.uk/1/hi/business/7314222.stm

For further analysis of the Northern Rock crisis:
Financial Times
www.ft.com/indepth/northernrock