The E-Sylum:  Volume 10, Number 37, September 16, 2007, Article 17

RUN ON BRITISH BANK ECHOES DEPRESSION-ERA PANIC

In an article published by England's Telegraph describes a frightening
scene not encountered in decades: "At first, it was a very British kind
of panic: calm, polite, reserved. Armed with folding stools and flasks,
battalions of savers descended on high streets across Britain to lay
siege - quietly - to Northern Rock branches.

"Up and down the country, from Newcastle to Brighton and Bristol to
Bromley, pensioners lined up with young mums, and lawyers stood alongside
labourers.  Susan Ogley, at Northern Rock in Brigate, was ‘a little
worried' and planned to take out some savings.

"Customers, many of whom had been queuing from 6am, swapped tales of
jammed websites and unanswered phone calls.  By mid-morning, however,
when the besieged staff began turning away customers, the genteel
atmosphere had turned to anger as customers began to clash with
Northern Rock staff, its management and even the Government.

"Orderly queues descended into scrums as customers feared for their
life savings.

"Northern Rock's management supplied no extra cashiers at any of its
branches, and branch managers were left to decide whether to stay
open for longer or not.

"In the London suburb of Golders Green, there were scenes of pandemonium
when staff started to hand out a limited number of tickets for customers
who would be seen.

"Fighting her way to get past the queue outside the Golders Green
branch, wheelchair-bound pensioner Mary Davies, 86, was livid - but
not with Northern Rock or the Bank of England.

"'I think these people are bloody stupid,' said Miss Davies, gesturing
at the throng stretching up the street. The pensioner had come to her
local branch as she does every Saturday to pay £25 into her savings
account and to deposit a cheque.

"'If the Bank of England is willing to stand by Northern Rock, why are
these people worrying about their measly savings,' she railed. 'If
there is a crisis, it is people like these that will have caused it.

"'It's like panic buying in the war - it just makes things 10 times
worse. Having lived through the war, I think this is madness.'"

To read the complete article, see: Full Story

  Wayne Homren, Editor

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