My diigo daily 09/19/2007

2007 Subprime mortgage financial crisis – Wikipedia, the free encyclopedia

Northern Rock – Wikipedia, the free encyclopedia  Annotated

The problems arose from difficulties banks faced over the Summer 2007 in raising funds in the money markets, caused by the subprime crisis in the United States. The bank is solvent but has a liquidity problem because a large part of the bank’s assets are held in mortgages, and are not accessible quickly.[18]

    Northern Rock Homepage CEO Message  Annotated

    A message From Northern Rock

    May I begin by offering our customers my sincere apologies for the anxiety and
    inconvenience that we have caused you. I know how worried many of you must
    have been.

    Today I want to make it emphatically clear to all Northern Rock customers that we are
    open for business as usual.

    We remain a well-managed company and continue to be a safe place for your savings,
    loans and mortgages.

    The simple fact now is that the Chancellor has made it clear that all existing deposits
    in Northern Rock are fully backed by The Bank of England and are totally secure during
    the current instability in the financial markets.

    We are all working night and day to provide you with the service that you expect from
    us and deserve from us. And I would like to express my appreciation to our staff for
    their work and commitment over the last few difficult days.

    Above all I would also like to thank all our customers for their support and understanding.

    I am also pleased to announce that any customer who has paid a penalty for withdrawing
    their investment, will have the penalty refunded if they re-invest the same amount in
    the same type of account by 5th October 2007.

    These have been troubled times but Northern Rock will prevail. We will not let you down.

      MM-昔日重现!(by 张一帆) – 思维的乐趣BLOG

      How to Choose the Right Job So That You Can Have a Successful Career

      Whose Shadow Are You Standing In?  Annotated

      Learning – You may think that there isn’t anything else you could learn in your field, but this is far from the truth. Being in someone else’s shadow gives you a sideline view of all of their accomplishments and failures. What’s better than learning from someone else’s experiences and replicating all the things that would benefit you?

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