Anyone else got an ISA with Northern Rock? Anyone else worried?
So, on the one hand, if I panic like a frightened goose* and take my money out then I lose its tax-free status. And Gorden Brown gets enough of it already, so I'd rather not take this option. Also, this would then mean that I was contributing to the likelihood of the bank going bust, rather than supporting a generally fairly ethical and friendly business who have done exactly what I asked them to do for the last few years now.
On the other, if I panic like a rabbit caught in the headlights on the oncoming 4x4, and do nothing, then I risk losing the lot (minus whatever the government hand back from their contingency fund), and feeling a complete chump, as I could have done something, but didn't.
Loyalty is a fine thing, but when is enough enough? Hmmm...
UPDATE - The government have announced that, should Northern Rock fail, then they will underwrite 100% of all deposits, rather than the previous system whereby the first £2,000 would be underwritten in full, but only 90% of the next £33,000, and nothing thereafter.
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*Do geese panic? I don't know. I'm trying for something known to panic by flapping a lot. Any ideas?
1 comment:
There is much news on this subject, yet no new posts. What is your current opinion as a Northern Rock customer? Are you still in fact a customer? No new posts for 3 months - don't tell me you have other things to do. A PhD is for procrastination, didn't you know? :)
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