Which is the safest bank to weather financial crisis?

Where would you put your savings such that they give a good return and are most capable of weathering financial crisis such as we are experiencing now?

Strangely enough, if your savings are less than 30k, Northern rock is probably the bext place to be. The govt. has guaranteed that they will cover any customer losses up to this amount, and also, they have to give 3 months notice before they can pull out of the deal, so if they do remove their cover you have plenty of time to re-think. It s very unlikely the govt would go bust, so it probably is the safest place at the mo.

Mosly, I'd leave my bank investments alone right now or I'd buy more. In the midst of a furor like this isn't the time to make decisions about a change. The thing to do is plan for events like this - the market takes a 20% drop every 3 or 4 years on average. Buy quality and hold it. Buy more when there are fire sales like what we have now.

Where would I put my money? Any reputable financial is a reasonable risk. I'm checking reserves and planning to buy some more tomorrow or Monday.

As the other person has said the safest bank is Northern rock which is owned by us the taxpayer. the govenment isn't going to go bust....YET.

<Â£35k you're guarenteed to get your savings back if the bank goes bankrupt, so don't worry. Go for the highest savings interest rate.

>Â£35k I'd recommend Lloyds TSB, the Government aren't going to allow them to go bust!

Only one bank in the world has a triple A rating,which means the best managed,least risk.That bank is Lloyds TSB,soon to be Lloyds Halifax.Probably the best run bank anywhere on the globe

Below 35k stg any city bank in London.

The same one Bernanke just took his cash out of.

In startling news, people wake to a Monday where two of the behemoths of Wall Street and the financial world have gone down hard. The fate of Merrill Lynch and Lehman Brothers is scary and harbors the question of whether the mortgage market is dead?

Founded in 1850, Lehman Brothers was not some regional bank. The fact it was unable to weather the mortgage crisis is an incredibly bad sign because it was diversified across many markets. When it filed bankruptcy, it has $613 billion in bad debt.

Merrill Lynch was funded in 1914 and is a stalwart of the financial world. This company provided services in just about every venue and was considered a pillar of the financial world. Facing insolvency, Merrill was purchased by Bank of America on September 15th.

Make no mistake, the failures of these two stalwarts is an amazingly bad sign. These are not some small regional banks going down the drain. This is the equivalent of Google failing and selling out to Microsoft as a last gasp gesture.

The current financial market is an interesting one. We have never seen such a massive meltdown and yet so little a reaction to it. We are seeing events in the banking industry that have not occurred since the Great Depression and nobody seems to care.

Chairman Ben Bernanke of the Federal Reserve is the master pulling the strings. Watch his actions closely. The Fed has been doing shocking things, but it always occurs around a weekend when media attention is low, so most of us do not grasp the significance.

Why the silky smooth handling of the Federal Reserve has stopped a panic from happening, it has not been able to change a fundamental fact. The housing market and the security backing it are an absolute disaster.

The big problem for the housing market is the perception of mortgage based securities. Simply put, they are viewed as insanely risky which means money is not coming back into the market to fund new loans.

Think about that for a minute. The American Dream has become a bad investment. Home ownership is arguably the single biggest factor that keeps our middle class from disappearing. If there is no money to fund it, that may no longer be the case.

So, are we headed for the second Great Depression? With major banks failing, how can the small guys remain afloat? With no money in mortgages, how will people get cash out of their homes? In short, is this the end of the consumer America?

We are not going down without a fight if it does happen. Ben Bernanke and the Federal Reserve are taking drastic action. The news that a group of banks have created a massive pool of paper dollars for troubled banks to draw against is also good news.

Everything really comes down to Ben Bernanke and the Federal Reserve. If they can tell lies sufficient to fool most investors, we have absolutely nothing to fear.

Thank God for widespread ignorance and the mass media.
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If i had savings they would be going straight under my mattress and not setting eyes on a bank.

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