Bank of England - The Last Line of Resistance in a Crisis

The british financial system is complex and fragile in exact proportion to the power of this system. In lombard street, published in 18 73, the editor of the economist, walter badget, described with great skill the way in which the city of london had evolved in his time. No one has ever given a better description of how a bank run happens than badget. Those unfamiliar with lombards treet had to find out for themselves at the time of the runs or northern rock and country wide.