Nice for us savers - sarcasm - (not that anyone gives a shit about us anyway).

I think all mortgage holders should be ejected out onto the streets (and us home owners should be given free machine guns to repel boarders).

Don't laugh - it may all happen.

Where the fuck is Stephen King when you need him?

Great! i'm on a fixed rate!!

Interesting to note that I moved banks along with my mortgage direct debit, which is due to be paid tommorow and I have just had a call asking for it today, urgently! Well the last thing I am going to do is ring their call centre via a mobile phone and pay a day early, but I bet that a lot of people who have a similar call do as the message sounds very intimidating in it`s mechanical manner.

My mum went into Nat West today ( RBS ) and found that credits are not showing up on accounts. She was told the old chestnut "the computer is down" in addition her direct debits did not go out today - even though she has plenty of money in the bank.

ICELAND has stopped defending its currency - and now some of its banks are going under.

Stock markets are crashing 5 - 9 % as I write this.

Looks as if the whole thing is unravelling.

BROWN looks to have just wasted

I don`t know if I have posted this last week, but in RBS last week, there was a lot of people pulling out , or attempting to pull out their ISAS.

The majority of my money is in Scottish Widows, which I believe is RBS also, I can`t touch it for another 4 years by which time it will probably buy me a second hand Ford Fiesta at this rate.

All one can say is, everybody is in the same boat (mostly) for once, hardly comforting for the economy but a strange comfort for cash strapped families, as every nagging phone call will be from a representative that has already got nowhere on the last 2-300 they have made, asking for payments.

Sainsburys look to be in trouble now

Shares dropped 16% today and they are having to issue a new share issue

If FOOD companies are in trouble then heaven help us.

RBS are in deep trouble - and I bank with them - they told me last week that they could not give any overdrafts or loans for 6 months when I went in for a quick overdraft to cover me for a project.

I would say to anyone get your money out now ! and dont believe BROWN. Iceland said they would protect their banks - and now have not been able to do so.

Brown cant keep the whole banking sector going with

Mart,
Scottish Widows is Lloyds TSB, who may be in a slightly stronger position, in relative terms, than RBS.

I called my bank today to ask for a 3 month reduction on a loan repayment - they said that they could only reduce the monthly payment by

Cheers for that Mickey, that means that we are mostly with Lloyds here, just a few outstanding RBS things (another story for another day again!), I really would like my Scottish Widows money out though, I don`t like this situation at all, all the personal planning for the future is looking as dodgy as investing in a Tony Blackburn record. (Chop chop chop you can hear him saying...!)

This is the kind of post which incites unnecessary panic.

The problem with this crisis is that, compared to the last recession in the early 1990's (remember Lamont's interest rate hike of 15%??) people have access to news online every minute 24hrs a day - exposure to news at this level makes things seem a whole lot worse as you are seeing the market rollercoaster in realtime. Before you used to read a newspaper in the morning and that was the only access you had unless you listened to or watched the news.

Besides which, Gordy B, in allowing RBS to fail, will never be able set foot in his homeland without being lynched!!

Hopefully we will learn from this in the same way that the CAA learned after a spate of 747 accidents (remember there used to be at least one biggie a year and people initially panicked and said they were inherently unsafe) and the insurance market learned after their massive crisis in the 1990's.