Proceeding contribution from Jim Cousins (Labour) in the House of Commons on Wednesday, 12 December 2007. It occurred during Opposition day on Northern Rock.
Northern Rock
Does not the right hon. Gentleman accept that the fatal thing that caused the run on the bank was the quite improper leaking of the news that the bank had gone to the Bank of England for a credit facility? The directors and employees of Northern Rock all feel a profound sense of betrayal about that leak. Sadly for the directors, they never recovered their leadership after that and the feeling of betrayal sent them off course. Does he acknowledge that that leak caused the damage?
Secondary information
- Type
- Proceeding contribution
- Reference
- 469 c398
- 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 00:40:59 +0000
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