'Not irrational to want our savings back'

Northern Rock customers who spent hours queuing to withdraw their savings today hit back at the Financial Services Authority chairman for suggesting their behaviour was "irrational".

FSA chairman Callum McCarthy said in an interview with the BBC today: "It would be completely irrational for anybody who has money in Northern Rock to have any doubts about its security."

But the comments were met with anger. Pensioners Peter and Doria Watson said they did not trust the Government's assurances as they queued outside the branch in Kingston.

Mrs Watson said: "I want to draw my money from my savings account. It may not be much but it is a lot to me. We are the generation that saved. Today's generation is one that borrows. I don't trust what the Government says."

Peter Ho, who works in a Chinese takeaway, was also queuing at the Kingston branch. He said he had taken out £12,000 of his savings despite the Government's assurances. "It's better to be safe than sorry and have peace of mind," he said. "My brother was talking to a stockbroker and he said it was best to get it out."