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On 9 August 2007, France's largest bank announced that it had to suspend trading in two huge investment funds it controlled. The same day three German banks revealed that they were close to collapse. A few days later came the first run on a British bank since the 1860s as vast queues of worried investors besieged Northern Rock. Within weeks, the Government were being forced to bail out this previously little known bank to the tune of GBP30 billion, share prices in other mortgage lenders were plummeting, and alarming news about the state of several of the...