beorhthelm
A. Virgo, Football Genius
- Jul 21, 2003
- 36,031
From what I've read (and I could well be wrong) what buggered Northern rock was liquidity in the financial markets.
Not the fact they were offering 100% mortgages.
what im saying is their business model made them known to be higher risk, so were the first to feel the reduced liquidity.