Proceeding contribution from Stewart Hosie (Scottish National Party) in the House of Commons on Wednesday, 12 December 2007. It occurred during Opposition day on Northern Rock.
Northern Rock
The Economic Secretary's answer to the hon. Member for Cotswold (Mr. Clifton-Brown) was not wholly satisfactory. On 14 August, the Bank of England became aware of the credit crunch hitting Northern Rock. A month down the line, on 12 or 13 September, the Bank was still refusing to pump in extra cash, which is what the European Central Bank and the Fed did. Does the Bank of England not have some responsibility for the lack of liquidity in the market during that period, when everybody knew that the credit crunch was affecting Northern Rock?
Secondary information
- Type
- Proceeding contribution
- Reference
- 469 c383
- Session
- 2007-08
- Chamber / Committee
- House of Commons chamber
- Subjects
- Assets Banks Deposits Protection Loans Nationalisation Sales North East Government guaranteed credit Northern Rock
- Link
- View this Proceeding contribution on www.publications.parliament.uk
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- 2023-12-16 00:39:19 +0000
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- http://data.parliament.uk/pimsdata/hansard/CONTRIBUTION_429562
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