Northern Rock – If you pay peanuts…

I’ll leave it to my colleagues at Euromoney to provide a proper analysis of the events that led to a run on Northern Rock. But inevitably I have some views on the subject. When I expressed these in the office, I was quickly informed, not for the first time this month, that I was “out of order”.

As a debate raged about what went on to cause the fallout I said that everyone was missing a crucial point. This is the location of Northern Rock’s treasury operations. I sent an email to the company asking them if they could confirm it was in Newcastle. It took some time coming back to me, which might have been because my questions were expressed in Oxford English. So I ran them through an online translator (https://www.geordie.org.uk/links.htm)

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