Northern Rock the 5th largest UK mortgage lender is up against the ropes, having borrowed staggering sums to finance its own lending. We all have a vested interest in not seeing the lender end up on the rocks as we watch TV new footage of investors queing outside high street branhces. Over the last two day investors have withdrawn £2bn from the bank amid fears that their savings will be lost.
Continued uncertainty can only mean one thing, money will become more expensive. If banks continue to be reluctant to lend to each other the cost of our nations personal debt will rise. Personal debt now stands at £1.3bn.
So here is the question,
Where is Gordon Brown, our Prime Minister?
The Prime Minister that has just spent the last ten years as Chancellor of the Exchequer.
Has the man of Prudence got nothing to say?
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