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 e...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
