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The Northern Rock crisis was the first run on a UK bank in 120 years, and served as a poignant example of just how wide-reaching the global economic troubles have become. If a bank as large and powerful as Northern Rock can fall victim to a major financial catastrophe, then it’s possible that any bank or major lender could likewise be affected.

The recent chaos at Northern Rock has seen thousands of customers withdraw their life savings, sending the company’s future into uncertainty. Meanwhile, the Government spent days deliberating over whether to bail it out at all. But since Northern’s lending model has always been heavily reliant on the money markets, wasn’t this whole debacle foreseeable?