April 2005 speech. Because of these remarks, as well as his encouragement of the use of adjustable-rate mortgages, Greenspan has been criticized for his role in the rise of the housing bubble and the subsequent problems in the mortgage industry that triggered the economic crisis of 2008. On October 15, 2008, Anthony Faiola, Ellen Nakashima and Jill Drew wrote a lengthy article in The Washington Post titled, "What Went Wrong". In their investigation, the authors claim that Greenspan vehemently opposed any regulation of financial instruments known as derivatives. They further claim that Greenspan actively sought to undermine the office of the Commodity Futures Trading Commission, specifically under the leadership of Brooksley E. Born, when the Commission sought to initiate the regulation of derivatives. Ultimately, it was the collapse of a specific kind of derivative, the mortgage-backed security, that triggered the economic crisis of 2008. Concerning the subprime mortgage mess, Greenspan later admitted that "I really didn't get it until very late in 2005 and 2006." On September 13, 2007, the British bank Northern Rock applied to the Bank of England for emergency funds because of liquidity problems related to the subprime crisis. This precipitated a bank run at Northern Rock branches across the UK by concerned customers who took out "an estimated £2bn withdrawn in just three days". See also 2000s commodities boom 2010 United States foreclosure crisis Financial crisis of 2007–08 Great Recession Mortgage Electronic Registration Systems Synthetic CDO Real estate trend Notes Further reading Books and book chapters June Fletcher (2005), House Poor: Pumped Up Prices, Rising Rates, and Mortgages on Steroid – How to Survive the Coming Housing Crisis, New York: Collins. . Fred E. Foldvary (2007), The Depression of 2008, Berkeley: The Gutenberg Press. . Koller, Cynthia A. (2012). "White Collar Crime in Housing: Mortgage Fraud in the United States." El Paso, TX: LFB Scholarly. . Patterson, Laura A., & Koller, Cynthia A. Koller (2011). "Diffusion of Fraud Through Subprime Lending: The Perfect Storm." In Mathieu Deflem (ed.) Economic Crisis and Crime (Sociology of Crime Law and Deviance, Volume 16), Emerald Group Publishing Limited, pp. 25–45. John R. Talbott (2006). Sell Now!: The End of the Housing Bubble, New York: St. Martin's Griffin. . John R. Talbott (2003). The Coming Crash in the Housing Market, New York: McGraw-Hill. . Elizabeth Warren and Amelia Warren Tyagi (2003). The Two-Income Trap: Why Middle-Class Mothers and Fathers Are Going