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Inside the Rock

Posted by Andrew Hebden on June 9, 2008 4:49 PM | 

The fate of Northern Rock may still hang in the balance, but the lack of any firm outcome to the crisis has not prevented former employee Brian Walters from writing what I assume is the first book on the subject ("The Fall of Northern Rock", published by Harriman House).

He promises to deliver “an insider’s story� on the bank’s demise, although it quickly transpires he was not even inside Northern Rock House as the crisis unfolded, but instead working in the bank's commercial division in a Leeds branch office.

Unsurprisingly, aside from one or two quirky anecdotes, the account from a Rock employee of less than three years casts little fresh light on the subject and the most telling conclusion is that the bulk of the staff had no idea how bleak the situation was.

Because he was physically remote from Newcastle you don't even get a feeling for the atmophere inside the corridors of power. More authoritative and enlightening accounts will undoubtedly follow.

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