Sunday, January 25, 2009

Britain was just three hours away from going bust last year after a secret run on the banks, one of

Revealed: Day the banks were just three hours from collapse

City Minister Paul Myners disclosed that on Friday, October 10, the country was 'very close' to a complete banking collapse after 'major depositors' attempted to withdraw their money en masse

Posted by chris @ 05:58 AM (1205 views)
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6 thoughts on “Britain was just three hours away from going bust last year after a secret run on the banks, one of

  • I’ve often thought about why brown and darling often preceed ‘everything possible’ with ‘I’m sure we can get through this’

    as if there are people somewhere saying we can’t!

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  • no sorry this article is wrong wrong wrong. Its all the fault of those pesky short sellers. ……hmmm here is a thought maybe those pesky short sellers were major depositors themselves?………

    So we live in a Marry Poppins film (cant bring myself to say movie) after all. oh well dum didl idil didl dum didl i…

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  • techieman ~~~ Mary Poppins meets Alice in Wonderland

    “Money must be based on the real wealth of society people, skills and materials not on debt. The supply of money must relate to these physical facts not to the requirements of the banking system. ”

    http://www.prosperityuk.com/prosperity/bromsgrove/principles.html

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  • stillthinking says:

    It would have been a bit glib for Brown to announce he was guaranteeing the whole banking system at the same time as all the banks closed their doors and the ATM machines were switched off. What kind of guarantee is that? You can’t have it but its safe.
    Very comforting to know that such a plan is in place though….

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  • “60-year-old Lord Myners was accused last night of being ‘completely irresponsible’ for admitting the scale of the crisis while the recession was still deepening and major institutions such as Barclays remain under intense pressure.”
    Says it all…….

    Actually thought it was my fault — drew £20 out that day knowing they couldn’t afford it.

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  • You must have enough money at home to get you through a tough time.

    I expect most do in this climate!

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