Word: guaranteee
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With confidence in the U.K.'s banking system stretched, the government felt it had little choice but to step in with a definitive gesture to stem the panic. In an unprecedented move, the Treasury announced on Sept. 17 that it would guarantee all deposits held with Northern Rock. "I want...
For savers at British bank Northern Rock, the days of worry may be waning. But it took a bold intervention by the U.K government to accomplish. Hoping to stem depositors' panic about the Northern Rock's solvency after it announced last week that it had requested an emergency line of...
That dramatic, gilt-edged guarantee (since, even theoretically, it has put U.K. taxpayers on the hook to bail out a business that supposedly lived and died in the free market) was enough to calm the markets Tuesday. While some of the Newcastle-based bank's savers still waited in lines...
That's a bold statement. It's also utterly specious. As every high-school biology student knows, evolution is neither a tidy nor quick process. Even if Clark could somehow prove that prosperity is hereditary - survival of the richest, he terms it - it doesn't follow that genetics, rather than...
What did it feel like to land on the moon? -Amor Detalla, Tagum, Philippines That question has been asked a thousand times. It is very difficult to convey to somebody who is not familiar with all of the training and preparations we went through, because that is what resulted in...