Under the Skin – Credit-Crunched, Recessionary Times: Implications for the UK and Its Banks
Neil CoburnTruth Consulting
Monique Hellel, Matthew Higgins, Alan Jones and Carina KempHSBC
Louise McLarenTruth Consulting
INTRODUCTION
The speed and ferocity of the current economic downturn has come as a body-blow to the UK. Even Gordon Brown acknowledged on 23rd January, the day the country officially entered a recession, that 'What we did not see, nobody saw, was the possibility of markets failure' (BBC News, 23rd January 2009).
Of course, some are now claiming 'I told you so'....