Posted on 12/31/2007 3:47:19 PM PST by fightinJAG
Mighty institutions and powerful figures undermined by pitiful little property deals
[snip]
The credit crunch was behind the biggest story of the year, Northern Rock. It emerged in September that the bank had been forced to apply to the Bank of England for emergency funds as liquidity had dried up in the market. Savers were told not to panic. But they did anyway. The next day, there were long lines of people threading through high streets across Britain, hoping to retrieve their cash.
The scenes triggered a postmortem into how a major bank - the fifth biggest provider of mortgages in the country - could reach the brink of collapse without any apparent action to prevent it from going under.
[snip]
(Excerpt) Read more at guardian.co.uk ...
I’m only bumping this thread to read later because I like the title, a play on the phrase, “from the sublime to the ridiculous”.
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According to Intrade, the winner of the December 12th GOP debate was... Duncan Hunter.
http://www.freerepublic.com/focus/f-news/1938773/posts
Why the smart money is on Duncan Hunter
http://www.freerepublic.com/focus/f-news/1926032/posts
In this poll Hunter is up 3% and even with Paul and Thompson.
http://www.wxyz.com/news/local/story.aspx?content_id=3481ef60-8195-46a9-af04-b87b907bcfdd
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