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Why did banks like Northern Rock prefer short term paper to long term paper?

Peak oil is not an energy crisis. It is a liquid fuel crisis.
by Starvid (arvid.hallen at gmail.com) on Thu Oct 9th, 2008 at 12:20:19 PM EST
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long term rates are driven by the bond market; short term rates were driven, until the recent collapse, by the Central Bank rates.

In the long run, we're all dead. John Maynard Keynes
by Jerome a Paris (etg@eurotrib.com) on Thu Oct 9th, 2008 at 12:48:03 PM EST
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