Economic Melt Down

[pointofview]

The UKs biggest mortgauge lending bank/building society seems to be in serious trouble. Following media reports that they had ran out of funds, and were to be bailed out by the bank of england, thousands upon thousands of investers, up and down the country, inundated branches and demanded the withdrawel of their savings and investments.

Looks like this could be the first of many runs on a number of banks. Scenes of people queing outside branches from early morning - hours before opening - was reminisant of a the run on american banks during the great depression.

There could be trouble ahead

Edited September 14, 2007 by pointofview

[Carmine6]

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