Adam Applegarth

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Northern Rock: Post Mortem of a Spectacular Fall

Reckless play on global stage brought 'Northern Wreck' to its knees

(Newser) - The collapse of Northern Rock, Britains third-largest lender, was "the messiest banking crisis in the Western world resulting from the global credit crunch,'' a UK lawmaker tells Bloomberg in a post mortem of the disaster. “They really screwed it up,” said one analyst of the bank’... More »

Northern Rock Boss Quits as Fall Continues

$570M writedown posted; sale of troubled bank months away

(Newser) - The CEO of collapsing British bank Northern Rock quit this morning without comment, reports the Financial Times. Adam Applegarth resigned last month but had pledged to stay on as CEO until the end of January to guide the struggling company through its upcoming sale. But investors are troubled by the... More »

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