Northern Rock - end of the story?

This has been a story which has dominated British politics over the last six months. This week yet another new development which surely can never have been seen back in the summer - Nationalisation of the bank. For the Labour government this has been a very public humiliation but also for the UK financial establishment.

One of the aspects however of the Northern Rock crisis has been, in my judgement, the performance generally of the UK financial media. Many stories have been broken by the media in a timescale which may not have suited regulators and other bodies.