Sunday, 14 October 2007

Northern Rock.

Mr Smith records the latest revelation relating to the near crash of mortgage lender Northern Rock.

Giving a statement on the issue in the House of Commons, Chancellor Alistair Darling MP
declared that “With permission, Mr. Speaker, I should like to make a statement on Northern Rock plc. Before I start, however, I draw the House’s attention to the fact that I have informed both the Register of Members’ Interests and the Treasury’s permanent secretary that, like many others, my wife and I have a mortgage with Northern Rock, but no savings or deposits”

Just as well then or he probably would have been queuing up along with the bank’s other customers to get his cash out. But how did he manage to get away with not declaring this information until weeks after the crisis broke?

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