Friday 20 March 2009

Brown 'ignored warning on bank cash crisis FIVE YEARS before Northern Rock failed'

Daily Mail
"A bombshell official report revealed that the Treasury realised in 2004 that it did not have a proper plan to deal with a bank that ran out of ready cash and put the financial system under threat.But at the height of the boom, it was decided that the threat was not important enough.Just two years later the credit crunch brought Northern Rock to its knees and began a banking meltdown that drove the country into recession."

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