Hellifax or just paradise lost?

  • Story by: Emma Ann Hughes
  • Magazine: MortgageAdviser
  • Published Wednesday , September 17, 2008

"Hellifax" shouted the front page of the Daily Mirror. Steady there. Plummeting share prices may be bad but fire, brimstone and the eternal damnation of hell this is not. It would probably be more accurate to say "Paradise lost".

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During the run on Northern Rock a year ago there was still hope the trauma that is now impacting the banking sector could be contained.

Today there is a palpable sense of fear in the market and I must say it has not been helped by some of the headlines of the last few days that suggest we have entered a world akin to a Hammer House of Horror film.

My favourite one about Lehman Brothers' demise was the Evening Standards' "Lehman Brothers is allowed to die." Images of the Texas Chainsaw Massacre sprang to mind…

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