Submitted by Tom Marshall, Aug 9, 2008 04:54

Northern Rock is not a London-based bank; it is based in Newcastle upon Tyne, which is why the government bothered to rescue it in the first place. And no one who knows anything about the FSA ever thought it amounted to a "great regulatory system"; this single regulator is an amalgamated mess. The financial side of this article is pretty weak, however the problems with rising violent crime in London are very real.

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