In early 2007 Northern Rock were the first of the UK retail banks to seek emergency funding from the Bank of England.

Transcript -- The first domino: Northern Rock

Autumn 2008 witnessed a global financial crisis with governments worldwide taking emergency action to prevent a collapse of the banking system. The aftermath of the worst financial crisis since the 1930s saw economic activity slump. In the UK, higher unemployment, falling house prices and a sharp increase in government debt proved to be the alarming legacy of the near implosion of the banking system. This fascinating insight into the downfall of the global financial markets gives us a clear understanding of where it all went wrong. This material forms part of The Open University course DB234 Personal investment in an uncertain world

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Transcript -- The first domino: Northern Rock

Transcript -- The first domino: Northern Rock

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