Word: englands
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...unfortunate, to say the least, that one of the first actions of Britain's present Prime Minister, Gordon Brown, when he became Chancellor of the Exchequer in 1997, was to remove the task of bank supervision from the Bank of England and entrust it to the agency responsible for the regulation of U.K. financial markets - perhaps under the erroneous belief that financial regulation and bank supervision were much the same thing. In fact, they are fundamentally different. In any event, although Northern Rock was pursuing a conspicuously high-risk business strategy, which enabled it to increase its share...
...they are dealt with when they do. There was a serious bank failure in the U.K. when Johnson Matthey Bankers collapsed in 1984, while I was Chancellor of the Exchequer. After a few days of abortive attempts to find a genuine private-sector rescue, I authorized the Bank of England to take over JMB, close the business, and sort out the mess, which it duly did. Northern Rock is a larger and more complex case, but the principles are the same. Instead, Brown and his Chancellor, Alistair Darling, spent five months unsuccessfully trying to find a private-sector solution, which...
...take this worst possible course? The only plausible answer is so as to avoid the short-term political cost of a run-down of the bank, a major employer in the northeast of England, which is one of the Labour Party's heartlands. But the longer-term political cost to the government is likely to be very severe. Governments, like financial centers, need to be jealous of their reputation. The U.K.'s reputation as a financial center is sufficiently soundly based for it to recover from the blow inflicted by the Northern Rock affair. Whether the government's reputation...
...Furthermore, although Williams’ efforts to introduce dialogue between different cultural codes were well-received by some Muslim leaders, other Anglicans were ignorantly critical. This dialogue is crucial, since Islam is the second largest religion in Britain. Nevertheless, echoing the calls for resignation after this speech, Church of England General Synod member Alison Ruoff said, “He is a disaster for the Church of England. He vacillates, he is a weak leader and he does not stand up for the church.” Similarly, there was a typical reaction from British tabloid The Sun, exclaiming that...
...enduring message of Douglas Carter Beane’s “The Little Dog Laughed,” a sharp chamber comedy that fiercely satirizes Hollywood wheeling and dealing and probes issues of gay identity in the popular media.The Tony-nominated play makes its New England premier at the Wembly Theater at the Calderwood Pavillion, directed by Paul Melone and running through Feb. 16.The play focuses on Mitchell Green (Robert Serrell), a young actor confused about his sexual orientation and attempting to reconcile a budding public life with a newfound relationship with Alex (Johnathan Orsini), a New York callboy...