In August 2007 the United Kingdom experienced its first bank run in over 140 years. Although Northern Rock was not a particularly large bank (it was at the time ranked 7th in terms of assets) it was nevertheless a significant retail bank and a substantial mortgage lender. In fact, ten years...

While there is consensus as regards the magnitude and severity of the crisis, there are contrasting - even opposing views - with regard to the understanding of the causes of the crisis and the types of regulatory responses that can best tackle the imbalances that were at its root and to fix the...