FTAdviser.com

Advertising

It was August 9 last year when the Northern Rock crisis first became public and the autocratic reign of Adam Applegarth came crashing down.

It was then that the Great British public became aware of what was being whispered in financial circles for sometime that Northern Rock - and a few others - were out of control. What was unclear at the time was the depth of the problem. We are now heading for year two of the sub-prime crisis and credit crunch.