BoE should have helped earlier: Rock chief

In a tilt at the Bank of England, Adam Applegath, the chief executive of Northern Rock, said on Tuesday that injections by the central bank earlier on could have mitigated Northern Rock's problems.

Speaking at a Treasury Committee hearing at Parliament, Applegarth said: "The fundamental cause (of the run on Northern Rock) was the speed and duration, and the global nature of the liquidity freeze - heightened for us by the fact that we didn't have access to the same type of borrowing facilities

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