David Jones, the former chief financial officer of Northern Rock, was Tuesday fined £320,000 (US$498,228) and barred from working in finance after the Financial Services Authority found he misled investors about the bank’s bad loans in the lead-up to the bank’s eventual collapse. Jones most recently was CFO at Northern Rock Asset Management, the “bad bank” of the nationalized lender after a restructuring of its operations. He left the company in April because of the FSA investigation, a week after two former colleagues were fined and banned for their roles in making the bank’s 2006 bad-loan figures appear better than they were.

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Here's where the real housing affordability crisis exists

Some housing pundits report the demand for housing is strong, while these same pundits, on another day say that we are in a housing affordability crisis. Can the two narratives be accurate at the same time?

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3d rendering of a row of luxury townhouses along a street

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