The Government's handling of the Northern Rock affair will come under fresh scrutiny today when bosses from some of the world's most powerful investment banks are grilled by MPs, The Guardian reports.
US firms Citigroup and Goldman Sachs will be joined by Deutsche Bank and Swiss group UBS in front of the Treasury select committee to give their views on Northern Rock's near collapse and the way ministers dealt with the unfolding crisis. In particular they will be asked to comment on the efforts of the tripartite committee of Treasury ministers, the Bank of England and the Financial Services Authority, and whether they were equipped to deal with the crisis. MPs are also expected to broaden the discussion and ask the bankers for reassurance that the world's banking system remains robust...
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