Over the past week in the UK there has been a major financial new story. A leading bank, Northern Rock, asked the Bank of England for a loan, to help resolve a “cash flow problem”. Since then, there have been constant queues outside the banks branches as anxious savers have been withdrawing their money.
As bank officials, government ministers and the Bank of England have given assurances that “there is nothing to worry about”, “that everyones money is safe” – the queues got longer. Would you trust a politician who says there is nothing to worry about! [Read more…]