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FT.com: Any 'gift' of public money to Rock is pure myth
The Northern Rock affair has been a reminder of how dismally Britain's institutions can perform if they have poor leadership. In effect, the European Commission has been granted a veto on the future use of lender-of-lastresort facilities by the Bank of England, while the Treasury regards its own expertise as so inadequate that it must pay American investment bankers for guidance and counselling.

We have met the enemy, and he is us — Pogo
by Carrie (migeru at eurotrib dot com) on Fri Feb 1st, 2008 at 09:03:13 AM EST
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