The fall out from the global credit crunch continued to rock British banks and building societies today, with one leading lender saying it might run out of money.

Paragon, which specialises in lending to buy-to-let investors, saw its shares crash after it said it might have to close to new business.

The share price tumble – they fell 78½p to 125¾p by lunchtime – came just a day after Northern Rock's future was thrown into fresh doubt, and rumours circulated the City that both Alliance & Leicester and Bradford & Bingley were in trouble..........

Credit crunch rocks buy-to-let lender Paragon - Telegraph

Does everyone agree that we are now in a recession?