Purpose – The purpose of this paper is to offer an initial assessment of the Northern Rock (NR) crisis. Design/methodology/approach – The paper describes the context of financial market turmoil and the multi-dimensional aspects of the crisis. Findings – The central finding of this paper is that the NR episode is a multi-dimensional problem and reflects a complex set of inter-related problems. Originality/value – The paper brings together some of the strands of the analysis and addresses several lessons that can be learned.
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