How save is our money?
By freakishdish
@freakishdish (14)
September 15, 2007 6:31am CST
I want to report a news that I've read today on the daily mail
A shudder ran through the economy yasterday (14/09/2007) in the wake of the bank of the England's emergency loan to keep Northen rock afloat.
Panicking customers queued in their thousands to empety saving account, withdrawing close to £1 billion in one day. And the worry among the City analysts was that other banks might be forced to restor to similar measures in the light of the global 'credit crunch'.
The drammatic scenes followed the admission by Northen Rock, Britain's fifhbiggest mortgage lender, that it was running out of ready money.
After the news broke, lengthy queues spilled in the streets as Norhen Rock's staff attemped to reassure worried customers they would not lose their life saving. The bank also had close down its website, which could not cope with the flood of savers trying to transfer their money.
So I was wondering How save is our money?
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