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Scary story: Uneasy Depositers Flood Key British Bank..

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Virginia Dare Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-18-07 08:07 AM
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Scary story: Uneasy Depositers Flood Key British Bank..
sign of times to come?

http://www.washingtonpost.com/wp-dyn/content/article/2007/09/17/AR2007091701908.html

LONDON, Sept. 17 -- Worried depositors lined up Monday outside branches of Northern Rock, Britain's fifth-largest mortgage lender, to withdraw their money even as top government officials promised them it was safe.

It was the third day that lines of people formed outside the troubled bank, withdrawing what analysts said was about $4 billion, or about 8 percent of the total deposits, since Friday. The bank's shares tumbled 35 percent Monday, following a 32 percent loss on Friday.

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