Called To Account: The UK Financial Services Sector
Laura James WARC Online
The last year was the most turbulent for the UK financial services industry in at least a decade. The collapse and subsequent nationalisation of Northern Rock, which once provided almost 20 per cent of UK domestic mortgages, was unprecedented among post-war British retail banks. In the so-called credit crunch, UK and US banks have become increasingly reluctant to lend to each other because of fears over bad debt, especially in relation to sub-prime mortgages for consumers with poor credit records. This has put at...