This is interesting. A bank run in england. Also a rumour about an aussie bank needing support.


"UK govt intervenes to stem bank runFont Size: Decrease Increase Print Page: Print Peter Wilson, Europe correspondent | September 18, 2007
SHARES in the cash-starved British bank Northern Rock lost a third of their value for the second straight trading day yesterday as frantic customers again lined up at branches to withdraw money.

In scenes more reminiscent of the Weimar Republic than one of the 21st century's strongest economies, thousands of deposit holders ignored assurances from the Brown Government and the Bank of England that their money was safe, prompting fears that up to half of the bank's  24 billion pound ($57 billion) deposits may be withdrawn.

The British Government weighed into the crisis by vowing to protect all savings held in the beleagurered bank.

The exceptional move was announced by Finance Minister Alistair Darling.

Meanwhile, fears that problems could spread led shares in another major British home loans specialist, the Alliance and Leicester, to plummet by over 30 per cent.

Darling announced the new move after talks with the Bank of England and the Financial Services Authority (FSA) over how to deal with the mounting sense of crisis. "

http://www.theaustralian.news.com.au/story/0,25197,22435410-643,00.html


Stormy seas may be ahead of us