Monday, February 18, 2008

With Northern Rock, Crisis Enters Bailout Era - WSJ.com

[Source:WSJ.com]


In choosing to nationalize troubled mortgage lender Northern Rock PLC -- a surprise decision made over the weekend -- U.K. Prime Minister Gordon Brown is heading down a path rarely traveled by a developed-nation government. That path could ultimately bring the financial crisis home to regular taxpayers for the first time.

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