Britain's banking system was on the verge of collapse before the government stepped in with a multibillion-pound (dollar) bailout in the autumn, a government minister was quoted as saying Saturday.
Financial services minister Paul Myners was quoted by The Times of London as saying that "we were very close on Friday, Oct. 10."
"There were two or three hours when things felt very bad, nervous and fragile. Major depositors were trying to withdraw _ and willing to pay penalties for early withdrawal _ from a number of large banks," he was quoted as saying.
On Oct. 13 the government announced a 37 billion-pound government bailout _ …
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