toledoblade.com -- British mortgage bank's customers ignore appeals for calm, line up to withdraw savings

toledoblade.com -- British mortgage bank's customers ignore appeals for calm, line up to withdraw savings: "Hundreds of customers lined up to withdraw their savings from a British mortgage bank Saturday, ignoring government assurances that their money was safe despite the bank's request for an emergency loan.

Police were called in some cities to steer panicked crowds away as Northern Rock bank branches closed for the day.

Fears have spread over the bank's request earlier in the week for an emergency Bank of England loan amid the global credit crisis. Northern Rock, Britain's fifth-largest mortgage lender, is the first British bank in 15 years to be bailed out by regulators.

Customers withdrew $2 billion from the bank Friday, The Financial Times reported, citing an unidentified person described as close to the situation. The bank declined to confirm the figure, which represents 4 percent of its deposit base."

Oops, another bank run that is fallout from the sub-prime crisis, but this time it is in Britain...

Dow Explores Record Territory - Forbes.com

Dow Explores Record Territory - Forbes.com: "The Dow Jones industrial average passed 14,000 for the first time in history on Tuesday. Fueling the gains were some of the usual drivers: takeovers, strong earnings and moderate inflation."

Oh, yes, we are all so happy. Unfortunately, this is a hugely inflated number that is completely artificial. When it crashes, it will crash hard....

AlterNet: Twenty Things You Should Know About Corporate Crime

AlterNet: Twenty Things You Should Know About Corporate Crime: "Did you know that corporate crime inflicts far more damage on society than all street crime combined? This and 19 more amazing facts about the state of corporations in America."

Somehow, I am not surprised. I know there are far fewer corporate thugs in jail than street thugs, however. Big money buys the best lawyers. All hail corporate America.