Northern Rock is screwed either way

Northern Rock, the UK financial lender that had to make an emergency loan from the Bank of England, are in a real mess.  Customers were queuing Friday and Saturday to withdraw their savings, worried that the lender would fail and take their money with it, and people have been queuing yesterday – Sunday 16 September, which is not a banking day in the UK, waiting for branches to open so they can get in quick.

And it’s been admitted that if the rush doesn’t stop, it could kill the lender.

Check this out!  Reuters

So, Northern Link is weak anyway – must be, needing that loan, I don’t believe that bullshit coming out of their boss -and the customers are speeding its destruction!!!

Or, as Reuters suggests, the weakened institution could be picked off by some nasty predator multinational financial organization – which could be okay I guess </lies>

Lucky I’m skint – I won’t lose anything! 😉

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