Question: : True or False Questions Note: Please state whether each of the following statements is true or false and provide a short explanation. 1. Northern

: True or False Questions Note: Please state whether each of the following statements is true or false and provide a short explanation. 1. Northern Rock bank failed because it was highly exposed to the subprime mortgages. 2. Continental Illinois had a lower operation costs because they had fewer branches and heavily relied on the wholesale funding.

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