Latest Comments on Northern Rock
Posted by: Philippa Gee
September 17th, 2007.
Today, the issues that Northern Rock customers face are far worse than they seemed on Friday. Over the weekend it has become a case of ’self-fulfilling prophecy’ where people have pulled out so much money that it has made the financial future of Northern Rock more dubious. If savers had simply held tight and left their money, the situation would be a lot less precarious.
However, the reality today is that people are leaving the Northern Rock as quickly as they can and although I would rather the panicking stop, I would personally be getting my money out. The lesson to learn is to spread your savings between a number of different organisations.
With the greater uncertainty comes the increasing likelihood that a takeover will happen as the damage is spiralling and I have no doubt that this story is not yet over.
This entry was posted on Monday, September 17th, 2007 at 9:10 am and is filed under Investments.
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