|Author(s): Steve Nuttall, Tony Dent
Collection: Congress 2008 - Frontiers
Keywords: Observational Research, Recession
|PDF version (download)|
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The paper, concerning the problems of the UK banking system, clearly identifies the ‘new frontiers’ and the associated difficulties now facing all societies. The manner in which Globalisation has already created one economic world, combined with the 24/7 news media, ensuring that the majority of individuals (wherever they are) quickly learn what is ‘happening’ elsewhere (either directly or from word of mouth), has created a situation whereby governments and institutions cannot control ‘local’ events, without due consideration of the perception of their publics. Taking, as a case history, the events surrounding the run on the Northern Rock Bank in the UK last September, the paper identifies the difficulties faced by Government and Regulators at this new frontier. Furthermore, the research amongst those ‘consumers’ directly affected, provides some guidance for the management of such difficulties in the future.