Monday, September 17, 2007

Take the money and run

Somehow I couldn't help but think of the bank run scenes in 'It's a Wonderful Life' when reading the news stories this week about crowds of people queuing up outside Northern Rock bank branches across the UK to withdraw savings. According to the government, the Bank of England will guarantee any funds deposited with the bank it would seem that things are safe enough. That said, I probably would've joined the frenzied queues had I banked there! Northern Rock is one of the first banks to offer 5x salary mortgages (yowsah - that can't be a good idea!) However, I should add that I don't think their lending policy had much to do with the current crisis. The finance guru's would suggest that the problem is due to the fact that the bank depends heavily on sourcing funding from money markets (as opposed to from customer deposits or from other banks) and that this has become significantly more expensive recently due to problems in the American property market. That said, I think the property market here (a favourite rant topic of mine) is going through an upset as well so watch this space for more scintillating analysis of these and other financial issues! (I really don't have a clue.)

I feel like yet again it's been forever since I've blogged! We had a good and busy weekend which included lots of autumn/veggie cooking which I have been loving. We had friends for dinner on both Friday and Saturday night (we don't do that often enough!) and we also spent a good chunk of our weekend at our church. The Micah Centre opened on Saturday and the newly refurbished church (it's beautiful - pics will be forthcoming!) opened with some special services on Sunday. I might also add that I ran 18 miles early on Sunday morning . . . did I mention I did it on my own as Stu's injured and that it was raining?? (A bit of harmless self promotion on the blog, it would seem, never hurt anyone!)

3 comments:

B said...

18 miles - you're quite a woman! Many thousands of kudos points coming your way!

And on another note entirely, did you meet Roy Walker?

Anonymous said...

and i believe your medal is in the post.

stu said...

It's tough being married to a legend/ironwoman! You know I would love to join you, it's just my leg....gosh that sounds pretty weak!