Yee Haw, It's a Bank Run 2.0!

The housing price crisis has led to more than its share of troubles in the U.S., but those issues are now spreading worldwide. The latest casualty is the UK, which is starting to see the first effects of our poor business decisions.

All eyes are now focused on Northern Rock bank, a major British institution that has recently been under fire by customers trying to withdraw their money, they fear, before the bank goes under. The catch? While Northern Rock has its share of people lined up around corners waiting for their turn in front of a teller, many customers have online-only accounts that simply can't be accessed physically. Rather, they have to use Northern Rock's website to get to their cash... and, of course, that website has been down due to the crush of traffic from people who want their money.

Northern Rock says everything is fine, that your money is safe, and that the web difficulties are a mere technical hiccup. That isn't sitting well with people who have followed Northern Rock's provisions regarding account access for years, only to face an impossible task while trying to get to their funds when the chips are down.

I've recently raved about online savings accounts, but these troubles are an important caveat to consider, particularly if your region doesn't have a system for guaranteeing the security of deposits, the way the FDIC insures funds for American investors. Something to consider especially if you're trying to hedge against a falling dollar with an overseas bank account.