Northern Rock shares drop 32%

Talk about illogical hysteria (is there any other type?).

It's like the 2000 fuel shortage all over again. People are queuing up and withdrawing all their money from a bank that will not go bust, has layers of guarantee (granted, it's only upto 32K but those wallies I saw today wouldn't look out of place in the dole queue) and has over 100 million pounds in assets.

Get a grip! These wallies are just fueling the flickering fire.

But the share price drop is understandable. To get into the mess they are in, NR must have some risk takers in their management structure and their gamble is not paying off. Why invest money into people who have proven themselves to be failures when you can give it to some other willy nilly upstart director who has yet to prove anything?