Alistair Darling

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UK To Introduce Sweeping Bank Reforms

Darling announces regulatory shift after Northern Rock fiasco

(Newser) - Britain's chancellor will offer sweeping new powers to that country's equivalent of the SEC to intervene in the event of a banking crisis. In an interview with the Financial Times, Alistair Darling presented a set of triggers that would allow the Financial Services Authority to step in and protect assets...

Brits Hatch Secret Plan to Bail Out Northern Rock

No good options for struggling bank

(Newser) - Worried that the state might be stuck nationalizing Northern Rock, Britain has worked up a contingency plan behind closed doors to divide the troubled bank among the country’s commercial banks. A private buyout is still preferable, the Guardian reports, but some now fear the main bidders will back out,...

UK Accused of Cover-Up in Data Loss
UK Accused of Cover-Up in Data Loss
Nov 23, 2007 12:27 PM CST

UK Accused of Cover-Up in Data Loss

Higher-ups okayed sending files with personal info on 25M

(Newser) - Alistair Darling's disastrous week continued today as the British chancellor of the exchequer faced accusations of a cover-up in the lost-data fiasco, the Telegraph reports. Contrary to Darling's claim that the loss of 25 million people's data was an error by a junior administrator, newly released e-mails indicate senior tax...

Two More Discs Missing in UK Data Fiasco

Brown apologizes as criticism of government grows louder

(Newser) - The fallout from the lost data fiasco in Britain continues, as the Times of London reveals that two more unencrypted discs containing sensitive personal information have been reported missing from the nation's tax agency. Gordon Brown faced down a furious opposition in Prime Minister's Questions yesterday. The PM has employed...

UK Chancellor Fights for Job After Data Loss

25M missing records spell trouble for already shaky Labour

(Newser) - A day after Alistair Darling was forced to admit that the tax department had lost the personal data of 25 million citizens, the British chancellor was fighting to keep his job in the face of a hostile and incredulous press. "Beyond farce, past comprehension, criminally irresponsible and beneath contempt"...

25M Britons' Private Info Lost in Mail

Parliament told addresses, bank data may be in wrong hands

(Newser) - Two computer discs containing the personal details of 25 million British citizens are missing, the chancellor of the exchequer told Parliament today. There’s no reason to believe the names, addresses, and bank info were stolen by criminals, but citizens were told to beware of “unusual activity.” Several...

Northern Rock Plummets 40% as Britain Seeks Buyer

Bank crisis spells political trouble

(Newser) - In Britain the meltdown of Northern Rock has expanded into a full-out political crisis. The bank's stock plummeted 40% this morning to trade at less than a dollar a share, the Financial Times reports. The collapse of Northern Rock spells serious trouble for Alistair Darling, the chancellor, who is desperate...

Brits Panic Over Credit Crisis
Brits Panic Over Credit Crisis
Sep 16, 2007 11:17 AM CDT

Brits Panic Over Credit Crisis

UK is extra vulnerable to the credit crunch

(Newser) - The US credit crisis is sending Britain's buy-now-pay-later economy into apoplexy, with Brits lining up by the thousands outside branches of troubled bank Northern Rock to withdraw their savings in spite of an unprecedented government bailout. Analysts say that the nation's borrowing habits leave the economy vulnerable. "I think...

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