Gilt Trip: Did UK government bonds almost blow up the financial system?
Many Happy Returns
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The Bank of England - The Lender of Last Resort
The Bank of England stepped in as a buyer of last resort and they did it at the right time. I think it was really nice to have some adults in the room because that is one of the prime roles of a central bank, isn't it? It's not just about setting interest rates. Financial stability is really what they're about. Rates are part of that and keeping money stable and the value of money stable. But they also do a lot of regulatory stuff. So presumably they're going to be regulating like crazy after this to ensure this doesn't happen again.
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