When Richard Branson was first linked to a possible rescue for Northern Rock six weeks ago, the British mortgage bank was in a critical state.
News that Northern Rock had to seek emergency loans from the Bank of England sparked the first run on a bank for 140 years. Crowds of worried depositors queued to get their cash back, while the bank’s share price plummeted by more than 90 per cent.
The bank’s problems stemmed...
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