orlandoblue Posted September 15, 2007 Share Posted September 15, 2007 Are they right to move all their money. It seems to me all the northern rock have done is borrow money from the bank of england due to other lenders going all tight due to the recent events in the US housing market.. I think they will just exacerbate the problem by moving their money. Link to comment Share on other sites More sharing options...
Savage Henry Posted September 15, 2007 Share Posted September 15, 2007 Totally agree. Having said that, if my money was in Northern Rock, I wouldn't take the slightest chance and I'd be withdrawing all of it yesterday. Fortunately I'm not in that situation, but I think you have hit the nail on the head. Edited for crappy typing skills Link to comment Share on other sites More sharing options...
McMuffin Posted September 15, 2007 Share Posted September 15, 2007 It's easy enough to look in on this and think that these people are morons, since it's not my money. However, if it was my money, i'd be down there queuing with them. Being a student, if my bank goes bust i'll probably be in better shape than I am now. Link to comment Share on other sites More sharing options...
Reina Posted September 15, 2007 Share Posted September 15, 2007 It's easy enough to look in on this and think that these people are morons, since it's not my money. However, if it was my money, i'd be down there queuing with them. Completely agree with that. Link to comment Share on other sites More sharing options...
Andy Dufresne Posted September 15, 2007 Share Posted September 15, 2007 Your 1st £2k is protected and after that the next £33k you get 90%. Link to comment Share on other sites More sharing options...
longjohn Posted September 15, 2007 Share Posted September 15, 2007 Yep, if it is your savings you don't take chances. I had money in Equitable Life some time ago. They hit trouble and I got my money out sharpish. Just as well as the company went tits up. At the time the financial authorities said EL was a reputable company etc etc. Sound familiar? Link to comment Share on other sites More sharing options...
kiddy Posted September 15, 2007 Share Posted September 15, 2007 I removed my dosh from NR when they shut the majority of the branches, like Falkirk. Hell mend them. Link to comment Share on other sites More sharing options...
ClydeSI Posted September 15, 2007 Share Posted September 15, 2007 If I had money with the Northern Rock, I would take it out, wait until their shares bottomed out, and invest some of the cash in them......... Link to comment Share on other sites More sharing options...
MattBairn Posted September 15, 2007 Share Posted September 15, 2007 Are they right to move all their money.It seems to me all the northern rock have done is borrow money from the bank of england due to other lenders going all tight due to the recent events in the US housing market.. I think they will just exacerbate the problem by moving their money. Theyre all pish The D rock!!!!! Link to comment Share on other sites More sharing options...
Stu Posted September 15, 2007 Share Posted September 15, 2007 Liked the guy on the news who claimed he wasn't acting out of panic, just being rational Link to comment Share on other sites More sharing options...
killiepiemuncher Posted September 15, 2007 Share Posted September 15, 2007 It said on the news tonight that £1 billion has been withdrawn to 2 days by panicking punters. I smell crash. Link to comment Share on other sites More sharing options...
Swarley Posted September 16, 2007 Share Posted September 16, 2007 If I had money with the Northern Rock, I would take it out, wait until their shares bottomed out, and invest some of the cash in them......... That's what I was thinking as well. All the experts are saying there isn't a problem and that it's likely that NR will now be taken over. So surely buying some rock bottom shares would be a good move? Link to comment Share on other sites More sharing options...
Guest Fast_Action Posted September 16, 2007 Share Posted September 16, 2007 I do have some not insignificant funds with Northern Rock. I have no intentions of moving them. I feel that these panic merchants are ignorant of what it means for the BofE to be lender of last resort. Were it not for the fact that these tubes were playing a part in flushing away a good financial institution, I would be laughing at them. Link to comment Share on other sites More sharing options...
Bloobell Posted September 16, 2007 Share Posted September 16, 2007 I wonder if Big Sam Allardyce has had his purse sewn up for now as NR are Newcastle's main sponsors are they not? Link to comment Share on other sites More sharing options...
orlandoblue Posted September 16, 2007 Author Share Posted September 16, 2007 It's easy enough to look in on this and think that these people are morons, since it's not my money. However, if it was my money, i'd be down there queuing with them. Being a student, if my bank goes bust i'll probably be in better shape than I am now. Completely agree with that. *sighs* Link to comment Share on other sites More sharing options...
vikingTON Posted September 16, 2007 Share Posted September 16, 2007 Capitalism doesn't work. The end is nigh. B) Link to comment Share on other sites More sharing options...
Reina Posted September 16, 2007 Share Posted September 16, 2007 *sighs* What? Link to comment Share on other sites More sharing options...
Swarley Posted September 16, 2007 Share Posted September 16, 2007 Capitalism doesn't work.The end is nigh. B) Communism/Socialism doesn't work either. The end really is nigh Link to comment Share on other sites More sharing options...
vikingTON Posted September 16, 2007 Share Posted September 16, 2007 Communism/Socialism doesn't work either.The end really is nigh Yes it does. Link to comment Share on other sites More sharing options...
Guest Fast_Action Posted September 16, 2007 Share Posted September 16, 2007 Yep, if it is your savings you don't take chances.I had money in Equitable Life some time ago. They hit trouble and I got my money out sharpish. Just as well as the company went tits up. At the time the financial authorities said EL was a reputable company etc etc. Sound familiar? I lost a bit of money in Equitable Life. It is not the same thing at all. The funds that I have in NR are staying there for now. Link to comment Share on other sites More sharing options...
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