A run on the bank in England

The Wall Street Journal describes a literal run on the bank today in England:

"Early Friday, Northern Rock customers queued outside at least one branch to withdraw their savings after the mortgage lender was forced to tap the Bank of England for emergency funds. Some savers had been concerned weeks ago about the possible fallout from the subprime lending crisis on the U.K. lender. In Kingston, England, a line began to form more than an hour before the Castle Street branch opened as concerns about the institution's liquidity unnerved savers. A staff meeting appeared to be taking place before doors were unlocked. Around 9:00 local time, the line outside contained about 30 people, but swelled to more than 70 within half an hour. Almost all were over 50 years old and retired. All planned to withdraw their cash."