https://nostuff.org/archive/tags/isa/ Recent content in Isa on nostuff.org archive | Chris Keene Hugo en-gb Tue, 15 Jan 2008 20:36:09 +0000 https://nostuff.org/archive/2008/upper-peter/ Tue, 15 Jan 2008 20:36:09 +0000 https://nostuff.org/archive/2008/upper-peter/ <p>…or <em>Northern Rock</em>. ho ho ho</p> <p>There has been zillions of stuff in the press of late about our friends Northern Rock.</p> <p>They had the genius idea of rapidly increasing their mortgage business, and instead of using deposits as (a good part of) the supply of money to pay for the mortgages, they instead borrowed from other banks. Borrowing from other banks is normal, but doing it to such an extent was the thing that made Northern Rock different. They got all their eggs and placed them all in a basket. Only they kept needing more eggs. And one day there was no one to give them more.</p>