U.S. Newspapers Keep Americans in the Dark About Northern "Wreck" Bank Panic

September 16, 2007 (LPAC)--On Friday, Sept. 15, long lines of angry and frightened depositors line up outside of all 72 branches of the British bank, Northern Rock, aka Northern Wreck. Police were called in to chase depositors away in Glascow, Scotland, and the branch was closed. It was a "classic bank run." Meanwhile, the online banking website crashed, and worried depositors were only shown a message promising the problem would be solved. While the major British financial press kept a stiff upper lip, the general press was full of lurid details--and graphic photos--of long lines, and quotes from those lining up to pull out deposits. Headlines such as "Customers Dash for Cash as U.K. Bank Gets Handout," and "Police Help To Disperse Northern Rock Queues," were the order of the day. In contrast, there was a deafening silence in the U.S. local papers, with small mention--and no pictures.