Banks Hammered As Global Credit Crisis Sparks Fresh Markets Panic
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Summary
BILLIONS of pounds were wiped off the value of Britain's biggest firms yesterday as the credit crunch became a crisis, prompting panic on world stock markets - and warnings from analysts that worse is to come.
High street banks were forced to ask the Bank of England for GBP 23 billion in emergency funding to counter a sudden freeze in lending brought on by the near collapse of investment firm Bear Stearns in the United States.See the full content of this document
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Banks Hammered As Global Credit Crisis Sparks Fresh Markets Panic
Among the major losers were two of Scotland's biggest employers: Halifax Bank of Scotland, whose shares plummeted almost 13 per cent, and Royal Ba...
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