Too close for comfort…
UK: Banks Were Just Three Hours From Collapse
Since then Royal Bank of Scotland (RBS) and Barclays (BCS) have started the toilet bowl death spiral…
Helmet time?
Revealed: Day the banks were just three hours from collapse:
City Minister Paul Myners disclosed that on Friday, October 10, the country was ‘very close’ to a complete banking collapse after ‘major depositors’ attempted to withdraw their money en masse.
The Mail on Sunday has been told that the Treasury was preparing for the banks to shut their doors to all customers, terminate electronic transfers and even block hole-in-the-wall cash withdrawals.
Only frantic behind-the-scenes efforts averted financial meltdown.
If the moves had failed, Mr Brown would have been forced to announce that the Government was nationalising the entire financial system and guaranteeing all deposits.
Full article: Revealed: Day the banks were just three hours from collapse, by Glen Owen, at Mail Online.
