Page last updated at 07:19 GMT, Friday, 20 March 2009

Rock criticised over risk taking

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Northern Rock continued with high-risk lending even after it was bailed out by the taxpayer, according to a report by the spending watchdog, the National Audit Office.

The report says the Government knew as early as 2004 that it was not properly prepared to cope if banks got into trouble but failed to make it a priority.

Robert Peston reports

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