Summary
IN THE course of the run on Northern Rock, a casual observer could have been forgiven for thinking that UK plc was like the Titanic heading for the iceberg with lifebelts locked in the closet.
The media, to quote George Bernard Shaw's famous words, often fail to distinguish between the collapse of civilisation and a bicycle accident, but for once the hype was surely justified.See the full content of this document
Extract
Caution Needed in Hazardous Waters
Reading any newspaper or watching television news will have made all those involved in the corporate sector shudder. The bank's difficulties, along with many siren voices forecasting doom and gloom for the economy because of the debt crisis and credit crunch, begged several questions, among them 'are things really so bad?' and 'what can be...
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