baby bank run... North Rock

[metalman]

There were queues outside branches of Northern Rock as some customers rushed to withdraw their money from the troubled bank.

Despite being urged not to panic, fears over the lender's financial future were enough to send some people racing to safeguard their funds.

http://www.channel4.com/news/article...w+money/803277

[Guest]

Re: baby bank run... North Rock

Mega over in the UK has an account there.

Given how permanently freaked out on DOOM Mega is anyway (#1 DOOM-MONGER on iTulip), I think we can safely assume he got in there first, and yanked his money out. :rolleyes:

That's one great thing about being a doom-monger, your antennae are the very first to twitch when there's a baby bank run pending.

[Mega]

Re: baby bank run... North Rock

Sort of, i still got £30K in there!
Pulled the rest out Monday to give Euro-pac

Will attempt to get the £30 k on Monday, will move Nat Savings (Goverment) till this SHIT calms down.

Mike

[Mega]

Re: baby bank run... North Rock

Local Branch open (mines offshore) 3 staff, one customer....no great panic.
Mike

[metalman]

Re: baby bank run... North Rock

Local Branch open (mines offshore) 3 staff, one customer....no great panic.
Mike

guess it depends on which branch you go to. either that, of the problems got worse over the weekend. or this is a sensationalist UK newspaper.

[Guest]

Re: baby bank run... North Rock

Metalman -

Go gentle on the guy maybe? He's got $60K equivalent still stuck in that account and has to wait till Monday to take care of that business. How'd you feel if it was your money and you could'nt do a damn thing till Monday?

I mean, we know Mega's pretty well freaked on the state of the credit markets already, no?

[metalman]

Re: baby bank run... North Rock

Metalman -

Go gentle on the guy maybe? He's got $60K equivalent still stuck in that account and has to wait till Monday to take care of that business. How'd you feel if it was your money and you could'nt do a damn thing till Monday?

I mean, we know Mega's pretty well freaked on the state of the credit markets already, no?

wasn't trying to make mega's life harder. typical that the most vociferous doomers are not more action oriented. i got my money out of these shit banks a long time ago. that means bank of amerika, shittybank, etc. anyone who still has money in these crap banks is nuts. same goes for germany, uk, australia.

[Guest]

Re: baby bank run... North Rock

Metalman -

You just gave me my wakeup call, as I realise I've done absolutely zip to protect our company's merchant account here in California. Monday is due diligence day for me to.

Here's hoping Mega gets himself extricated from that bank. Does not sound pretty.

[Mega]

Re: baby bank run... North Rock

Quite calm, i see little to panic about, the GOVERMENT has said that everyone WILL get PAID OUT!

NR has SHIT loads of assets, they simply ran out of incomeing money via LIBOR.

Still AM looking forward to Monday, i hope.
Mega