Ok, first Northern Rock - who next?!

Mushy61

Are the any plonkers on here who have actually withdrawn their money from NR?

I queued for two hours to get my money out until I realised I don't even have an account with Northern Rock.

alared

From what gt94sss2 posts above,it seems more or less that it`s banks that are affected and not building societies.

Lifeisbutadream

aardvaak wrote: »

Are the any plonkers on here who have actually withdrawn their money from NR?

My parents have their life savings in an account in Northern Rock. They are currently stood in a queue trying to move their money as we speak.

Phatmouse

aardvaak wrote: »

Are the any plonkers on here who have actually withdrawn their money from NR?

How awfull

whirlingdervish

I have a lot of money in the NR. At the moment I am worried sick to the point where I feel ill. 2/3 of my life savings and i do not know how safe it is or if I am going to lose most of it.

This is something I did not see coming. It is perhaps my own fault for not spreading my money around more.

Anyone know how you get a taxi drivers license???? LOL

beingjdc

Same - I don't think it's fair to call them plonkers. I have none but would be taking it out sharpish from a bank that has around £35 billion in liabilities and around £20 billion in available liquidity.

Equally though I wouldn't want to cause panic - I'm sure the Government will bail them out after all the comments they've made, I'd just prefer to have 100% of my money now than a form to fill in which will probably get me it!

MABLE

Lifeisbutadream wrote: »

My parents have their life savings in an account in Northern Rock. They are currently stood in a queue trying to move their money as we speak.

Sorry but I have never heard such crap. Not only has the Bank of England, The Chancellor and NR give assurances we still have the savers trying to draw their money. My advice is to stay put. NR will certainly be keen to attract new savers and to do this they will be offering an attractive interest rate.

theredfox_2

While I wouldn't call these hordes of desperate people "plonkers", it does rather disgust me to see this. It creates its own momentum, by increasing panic, damaging the NR reputation even more so more people panic, shares drop more, more people panic, and so it continues.

As a detached observer, one has to conclude that this is sadly how the financial markets operate and factor this in accordingly. Its a herd mentality, a subjective mood, and its subject to lowest common denominator reactions that get sparked off far too easily. Imagine for example, what the situation would now be IF NOT ONE PERSON HAD PANICED. It would be much, much better. But thats not how the mob is.

I wouldn't judge individual people understandably concerned about their money, but I most certainly judge this !!!!!!!! mob behaviour that is self-generating and self damaging. But nothing can be done...that's how it is.

sammyj25

whats the saying never put all your eggs in one basket. thats why i put money in many different accounts.

alared

NR really are making matters worse for themselves by blocking it`s online website to prevent people even seeing let alone withdrawing money from their accounts.

When people can finally get at their cash NR will have lost these customers forever.

After the debacle of the last few days it`s pretty clear the public don`t believe the government,the chancellor,NR or any other so-called expert who`s said "your monies safe".

The shares lost about one third of their value yesterday plus a billion pounds withdrawn by savers and about the same today judging by the queues.
Expect to see their shares hammered again on Monday if they`re not suspended altogether.