A Rock of the North
Northern Rock, an English bank, saw trouble in the American mortgage industry, panicked, asked the UK government to help, the good UK government agreed result? CHAOS!
Usually, I admit, I like to dump blame on the government or on some hideously wealthy Chief Executive, but in this case, I just can't. The fault as I see is the almost entirely the British public's (and I suppose those on the other side of the pond, for starting it all off, but then you have to feel sorry for them, hiccup a little in the US and the whole world jumps). The government is as I see it, is doing their best, and the Chief Exec of Northern Rock, well what can you say? He looks so sweet an cuddly, you just couldn't blame him for anything really.
So why is it the fault of the British public? Because they are the one's breeding the panic, they are the one's queuing ridiculous numbers of hours outside branches (you'd have thought they'd at least bring blankets like the Harry Potter queuers). The main word here is CONFIDENCE. It's the front page pictures of queues outside Northern Rock that has been the catalyst of massive falls in share prices, not just in Northern Rock, but I hear also from other banks such as Alliance and Lester.
Now in a way I know it's easy for me to say all this, I don't have money in Northern Rock, but still, I think these desperate queuers should take a step back and think. We are privileged enough to live in the UK, the land of both Shakespeare and the best breakfasts in the world, we also happen to have STABLE government and a STABLE economy (thanks Gordon), would the government really let anyone lose a single penny out of their banks never mind their entire life savings?
So Northern Rock customers, take a few deep breathes, stretch, look out of your window at our signature grey skies and realize that your becoming a queuer will at best mean you suffer personal discomforts such as tiredness and slight chilliness and at worst contribute to major problems in your country's (and after that possibly the world's) economy. Now realize how nice it is just to sit here and not be a queuer. Pleasant, huh?
However, if you do decide to join the ranks of the queuing hundreds, I understand and my thoughts are with you. Wrap up warm.