Florida lies on bedrock made of limestone or other carbonate rock that can be eaten away by acidic groundwater, forming voids that collapse when the rock can no longer support the weight of what's above it.
The state lies on bedrock made of limestone or other carbonate rock that can be eaten away by acidic groundwater, forming voids that collapse when the rock can no longer support the weight of what's above it.
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Northern Rock came close to collapse at the start of the credit crisis in 2007 after savers staged a run on the bank after it had sought financial aid from the government.
The local authority said further work was needed with another section of rock still in danger of collapse.
The collapse of Northern Rock and other small lenders has allowed the surviving mortgage-lenders to push up their margins.
The British government earned deserved criticism for its failure to act speedily and decisively over the collapse of Northern Rock.
Britain's Financial Services Authority recommended improvements to its oversight of the banking industry after the collapse of Northern Rock , a mortgage lender stricken by the credit crisis and later nationalised.
He took the job as head of the FSA two months before the collapse of Northern Rock in 2007, which was followed by huge government bailouts for two leading banks, Royal Bank of Scotland and Lloyds TSB.
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That shortage of cash played a role in taking Northern Rock to the brink of collapse, made it impossible for HBOS and Royal Bank of Scotland to survive without emergency loans from the Bank of England, and was an important factor in the collapse of Lehman Bros.
The British banking industry has been among the worst hit by the crisis with the government stepping in to rescue several major banks, including Northern Rock and the Royal Bank of Scotland, from collapse.
The former chairman of Northern Rock, who resigned over his role in the bank's near collapse, has won a seat in the House of Lords.
Perhaps more importantly, borrowing that much on wholesale markets is neither a stable or prudent way to fund any bank - as the UK taxpayers found out to their cost when Northern Rock, Royal Bank of Scotland and HBOS all went to the brink of collapse after their access to wholesale funds dried up in 2007-8.
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