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So where's the safest place to put our cash? (Independent)
For many of Britain's army of savers and investors, security is now the only game in town. Confidence, if not quite shattered, is desperately fragile. The question on everyone's lips is a simple one: is my money safe?
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Hamish McRae: We're back to the world of tight credit and miserly banks (Independent)
The banking crisis is getting worse and it will go on getting worse until the authorities, principally in the United States but also in Britain and Europe, take full charge and start to help rebuild confidence in the world banking system.
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Everything you want to know about the bank crisis (The New Statesman)
How bad is it? This is the worst financial crisis in 60 years, and it has shaken the banking system to its foundations. Even the Chancellor, Alistair Darling, has compared the crisis to the Great Depression and he is not given to overstatement.
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Top Scoops (Scoop.co.nz)
The unexpected rejection by the US Congress of the Bush Administration financial rescue plan, TARP on September 29 has opened up the spectre for the first time of a 1931-style domino wave of worldwide bank failures.
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Bradford & Bingley Nationalised Another UK Bank Wiped Out by Tulip Backed Securities (GoldSeek.com)
Bradford and Bingley's slow 12 month death march towards the same fate as Northern Rock finally looks set to have come to an end with expectations on Sunday that the beleaguered bank will be nationalised with a view to a break of the bank and liquidation of assets so as to cover in part the estimated £20 billion bailout cost that is required to fill the gap between assets and liabilities.
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Top Scoops (Scoop.co.nz)
Craig Crawford, CQ - How did anyone think the public would get behind something sold as a bailout of Wall Street multi-millionaires? Make it a bailout of homeowners, and you would have something that could pass in Congress.
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Financial tsunami: The end of the world as we knew it (Online Journal)
The unexpected US Congress’ rejection of the Bush administration financial rescue plan, TARP on September 29 has opened up the spectre for the first time of a 1931-style domino wave of worldwide bank failures.
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American rescue's message for Alistair Darling (Times Online)
The markets have had two worries about the American bank bailout plan in the past few days: will it happen and will it work? It is now clear that it will happen, or at least that something resembling it will happen.
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Analysis: Congress repeats 1930s errors with bailout vote (Times Online)
In the 1930s, the US Congress did more than its fair share in helping to turn a financial crisis into a global depression. Yesterday it looked as though it was auditioning to assume that role again.
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Store cards: the debt that can last a generation (Independent)
You can do a lot of things in 15 years. You might start a family and pilot your kids through the troublesome teenage years. Or maybe you'll begin a new career and see it flourish. Or perhaps, if you're really good with the pennies, you will pay off the mortgage early.
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