Quote ="Sal Paradise"Banks went bust because they didnt have sufficient reserves to cope when their regular source of liquidity dried up. Northern Rock didnt go bust because of mortgage default it went bust because it couldnt borrow in the market to pay back the huge loans it already had Nobody forced NR to lend this money it was pure greed and a flawed operational method that caused their demise'"
Quite right, their 125% mortgage model didn't stand up to scrutiny in the final episode, to put it simply for the likes of Titan, they were left without a chair to sit down on when the music stopped.
