Barbara Kantrowitz

Going Down the Tubes?

As the Bear Stearns meltdown made front-page news in Britain last week, London bankers worried Wall Street's chaos could spread across the pond. And with good reason: bankers and regulators are still feeling the fallout of their own recent crisis of confidence.Last fall, after reports of liquidity problems at Newcastle-based Northern Rock, anxious account holders led the first run on a British bank since 1866.

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