Can anyone tell me why the media fueling the fire to make it even more difficult for this buiding society to survive. Do they intentionally want to make this PLC to go bust and why someone leak the information regarding borrowing from the bank of England to the media.
2007-09-16 22:50:44 · 7 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
As was mentioned above, the fact that they had to borrow money from the Bank of England was not a secret and legaly had to be announced publicly.
The media have had a field day with this story, and really hyped it up, spreading panic amongst Northern Rock customers. All of it has been done to sell more papers, and true facts (which aren't half as interesting) have been neglected. All the media know that Northern Rock wasn't going to collapse, but weren't interested in reporting this.
Ironically, Northern Rock could be in trouble now, nowhere near collapse, but close to a takeover, as so many people are taking their money out of the bank, £2 billion pounds on friday alone and the final figures could be close to £12 million. The sensationalist report by the media has turned into a self fulfilling prophecy!
For more details about the current situation with Northern Rock, have a look at my site below.
2007-09-16 23:18:26 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Its not the media fuelling it, it's all the stupid people queuing to get their money out which is causing the banks shares to crash.
This is having a knock on effect onto other shares in the market.
I have lost 7% in the last two trading days yet non of my shares are with Northern Rock, I'm just glad i'm not a homeowner as if this continues there could well be a housing market crash
2007-09-16 23:22:09 · answer #2 · answered by Steve 2 · 0⤊ 0⤋
David Cameron is purely leaping onto yet another band wagon. via the time of the subsequent election he will probable have held each and every opinion attainable on each and every situation. the money marketplace disaster replaced into brought about via the banks themselves and their greed for earnings sucked them into the disaster while the US sub-top marketplace collapsed. having pronounced that the media have not helped with their adverse insurance. i'm additionally stunned that the media have not suggested the reality in the present Northern Rock debacle that Barclays borrowed numerous hundred million from the monetary corporation of britain on the initiating of August.
2016-12-26 14:54:41 · answer #3 · answered by ? 4 · 0⤊ 0⤋
Bank shares are looking cheap at the moment .. might be a good time to pick up a few bargains ..
2007-09-17 00:13:27 · answer #4 · answered by Steve B 7 · 0⤊ 0⤋
It wasn't leaked. They had to announce it by law.
2007-09-16 22:57:12 · answer #5 · answered by Anonymous · 0⤊ 0⤋
that 'money expert' man (who gets bank charges refunded) said, this morning, its better to leave your money in there if you have less than £330000
2007-09-16 22:59:40 · answer #6 · answered by Anonymous · 0⤊ 0⤋
I think you are only protected up to £32,000. (wish I had that amount)
2007-09-16 23:04:14 · answer #7 · answered by Rick J 5 · 0⤊ 0⤋