For 65-year old Tony Looch, with savings of £135,000, the lender's calming words were not enough.
"I'm prepared to wait as long as it takes. I'm taking the lot out, if they'll let me have it," said Mr Looch, who was queuing outside the bank's Moorgate branch, in the heart of the Square Mile.
"I'm absolutely appalled that they should be so badly run and so badly regulated. I thought they were totally reliable and secure -- they're supposed to be regulated these companies."
Northern Rock shares had plunged more than 20 percent by early afternoon after the lender slashed its profit forecasts and admitted it was seeking help from the central bank.
Based in Newcastle, Northern Rock has 76 branches around the UK, has about 1.4 million savers, around 800,000 mortgage customers, and retail deposits of £24 billion.
http://www.telegraph.co.uk/money/main.jhtml;jsessionid=XBV5D2AH3XHJZQFIQ
http://www.gata.org/node/5497
Note: http://www.telegraph.co...
http://www.gata.org/nod...
Crank Up The Presses, Print More [Money] There's A Run On The Bank!
Posted on Friday, September 14 at 16:21 by DiogenesContributed By
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The story is getting "legs"<br />
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<p>---<br>"When I tell the truth, it is not for the sake of convincing those who do not know it, but for the sake of defending those that do."<br />
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William Blake<br />
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Now Ain't That Awful - <br />
A Run On UK Banks!<br />
By Ted Twietmeyer<br />
<p>---<br>"When I tell the truth, it is not for the sake of convincing those who do not know it, but for the sake of defending those that do."<br />
<br />
William Blake<br />
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Fears grow for British economy as panic over Northern Rock spreads<br />
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Experts warn that a decade-long borrowing binge has left Britain dangerously exposed to the fallout from the global liquidity crisis <br />
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<p>---<br>"When I tell the truth, it is not for the sake of convincing those who do not know it, but for the sake of defending those that do."<br />
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William Blake<br />
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Seriously - the next sign people should look for is rationing of cash. When the banks won't let you have your own money in cash, but will issue a bank draft that will be honoured at any other bank, but you can't buy food or anything of value with.
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The preceding comment deals with mature subject matter, however immaturely presented. Viewer discretion is advised.
Doctor C has Mammon on Ropes
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"When I tell the truth, it is not for the sake of convincing those who do not know it, but for the sake of defending those that do."
William Blake
I Love it!<p>---<br>"When I tell the truth, it is not for the sake of convincing those who do not know it, but for the sake of defending those that do."<br />
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William Blake<br />
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