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BoE Bails Out Northern Rock

Friday, 14 Sep 2007 | 2:00 AM ET

Shares of Northern Rock plunged more than 20% as the British mortgage lender was forced to borrow from the Bank of England at an emergency rate. CNBC's Geoff Cutmore talks to "Squawk Box Europe" guest host Simon Goodfellow, Head of European Equity Strategy Research at ING Wholesale Banking, for more.