21st September 2007
Children blamed for Northern Rock Fiasco
Jane and George Banks, who are being blamed for the run on Northern Rock |
According to their investigation, Jane and Michael Banks, started the run on the bank after demanding their two pence of savings, which the bank's directors allegedly would not do.
"I was at Northern Rock to deposit may weekly pay cheque when I heard a small boy crying 'Give back my money," said rocket scientist and eye-witness Biff Honeydue. "He was then joined by a small girl saying the same."
Chaos
Within minutes there was chaos.
"Within minutes it was chaos," added Dr Honeydue. "Everyone seemed to decide that if the bank couldn't afford to pay out money to just a couple of kids, it really must be on the rocks."
CCTV footage shows that crowds of Northern Rock savers rushed en masse to the counters demanding their savings, leaving the hapless tellers no choice but to pull the shutters down with a theatrical slam.
Chaotic
As staff cried "stop all payments," word spread quickly and by the end of trading on September 14th, most Northern Rock branches witnessed similar scenes.
The FSA has already finished its investigation and has laid the blame for the bank's first run since 1773 on the children's father and Northern Rock director, George Banks.
He is to meet the Chancellor, Alistair Darling, and the Governor of the Bank of England, Mervyn King, to explain why Northern Rock had to be bailed out by the Bank.
Industry insiders say that despite Mr Banks telling Mr Darling a joke, the governor is to fine Northern Rock £1.5 million and will punch out Mr Banks' bowler hat.
George and Jane Banks were not available to comment as they were out investigating London's rooftops with their nanny, Mary Poppins, and known-sex offender and one-man-band Bert.
"I was at Northern Rock to deposit may weekly pay cheque when I heard a small boy crying 'Give back my money," said rocket scientist and eye-witness Biff Honeydue. "He was then joined by a small girl saying the same."
Chaos
Within minutes there was chaos.
"Within minutes it was chaos," added Dr Honeydue. "Everyone seemed to decide that if the bank couldn't afford to pay out money to just a couple of kids, it really must be on the rocks."
CCTV footage shows that crowds of Northern Rock savers rushed en masse to the counters demanding their savings, leaving the hapless tellers no choice but to pull the shutters down with a theatrical slam.
Chaotic
As staff cried "stop all payments," word spread quickly and by the end of trading on September 14th, most Northern Rock branches witnessed similar scenes.
The FSA has already finished its investigation and has laid the blame for the bank's first run since 1773 on the children's father and Northern Rock director, George Banks.
He is to meet the Chancellor, Alistair Darling, and the Governor of the Bank of England, Mervyn King, to explain why Northern Rock had to be bailed out by the Bank.
Industry insiders say that despite Mr Banks telling Mr Darling a joke, the governor is to fine Northern Rock £1.5 million and will punch out Mr Banks' bowler hat.
George and Jane Banks were not available to comment as they were out investigating London's rooftops with their nanny, Mary Poppins, and known-sex offender and one-man-band Bert.
