Northern Rock

[AndyP & Lenore]

Anyone on here pulling their savings out?

[Craig]

naw, but I am thinking about buying some cheap shares, 'cos their own customers have driven the share price into the ground.. ;)

I don't think they (the customer) have taken the advice of the FSA who are saying that they are solvent and in "no danger"... :confused: Also, unless you have significantly more than £35K invested, then you are highly unlikely to lose a penny even if the company goes out of business, however another company would most certainly buy them out if they were going under.. :)

[Scottie]

don't save with them I use A&L where over 50% of their money comes from customers.

[duncan]

naw, but I am thinking about buying some cheap shares, 'cos their own customers have driven the share price into the ground.. ;)

I don't think they (the customer) have taken the advice of the FSA who are saying that they are solvent and in "no danger"... :confused: Also, unless you have significantly more than £35K invested, then you are highly unlikely to lose a penny even if the company goes out of business, however another company would most certainly buy them out if they were going under.. :)

Its not that often I'm in complete agreement with you Craig, but I'm in complete agreement with you here!

My Mum has savings with them, although I don't, she's not worried, and not one of the Queueing masses.

I feel the Meedja are looking for a new story, seeing as the McCanns is getting less interesting, and thats not helping.

Where's the hysterical savers from Barclays who did the same thing a few weeks ago?

[The Dogfather]

Crazy! I saw the morons in Newcastle today.

Still, if the BoE are going to make statement like that then panic will ensue. King should have kept his mouth shut until after everything had calmed down.

[euan]

Crazy! I saw the morons in Newcastle today.

Still, if the BoE are going to make statement like that then panic will ensue. King should have kept his mouth shut until after everything had calmed down.

He'd only have got huge pressure on him later when it came out, press would have had a field day.

Does seem to be some over reaction going on, though it's unlikely that NR name will be about too much longer as they will no doubt get bought by someone.

[Gismo]

Although i'm not a customer, i find it rather hilarious, though serious, to see these queues of people withdrawing their money.
Having been in a 4 hour queue you would think that, hmm, i'm getting my money out ok, why did i just stand for 4 hours in a queue.

Why don't they listen to what the BoE are saying, the media are not causing the panic, the general public are, easy for me to say i know, but still............

[euan]

I think it is the press though - Now that people don't want to stand in a 4 hour queue, they are going online, and guess what? The systems can't handle nearly every customer online at the same time and it's not working properly.

But the press spin it, making a story out of nothing and implying that they've done it on purpose to make it harder for people to get the money out. They need to fill all that airtime after all. For their uses, I think 24 hour news channels have a lot to answer for. I'd get rid of them, have interactive news headlines on red button.

What I've not seen reported on the news is that people have about 32K worth of cover from the FSA and the BoE so if you have that in NR, you'll get at least 90% but likely all of it back.

[duncan]

I think it is the press though - Now that people don't want to stand in a 4 hour queue, they are going online, and guess what? The systems can't handle nearly every customer online at the same time and it's not working properly.

But the press spin it, making a story out of nothing and implying that they've done it on purpose to make it harder for people to get the money out. They need to fill all that airtime after all. For their uses, I think 24 hour news channels have a lot to answer for. I'd get rid of them, have interactive news headlines on red button.

What I've not seen reported on the news is that people have about 32K worth of cover from the FSA and the BoE so if you have that in NR, you'll get at least 90% but likely all of it back.

Yep, pretty much how I see it.
There was more time shown of people in queues out side branches, than the Chacellor of the Exchequors re-assurances on News 24.
Fair and impartial? Nah, lets not bother. Lets show panic!