Saturday, September 29, 2007

Take your money out of Northern Rock whilst you can

I'm amazed northern Rock still has any savers.

Remember the Government is rearranging the guarantee scheme so if you have over £100k you should be alarmed. They will tell you the schemes have changed - after they've done it. So the only time to act is now.

As for the guarantee - if they are 90% of the money - why risk losing 10% when you could earn over 5% else where ?

In short saving with Northern Rock just doesn't make sense. Maybe an accountant can create a balance sheet that says its solvent, but the loss of good will could be terminal.

The government is already plotting how to con the grannies again ( like Railtrack) by killing of the small shareholders.

You have possibly until election day and maybe not even that.

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