It’s all shit

September 30, 2008 General One comment
! This post hasn't been updated in over a year. A lot can change in a year including my opinion and the amount of naughty words I use. There's a good chance that there's something in what's written below that someone will find objectionable. That's fine, if I tried to please everybody all of the time then I'd be a Lib Dem (remember them?) and I'm certainly not one of those. The point is, I'm not the kind of person to try and alter history in case I said something in the past that someone can use against me in the future but just remember that the person I was then isn't the person I am now nor the person I'll be in a year's time.

The FTSE has dipped below 5,000 points for the first time in a couple of years after Sunday night’s announcement that Bradford & Bingley was to be nationalised and asset stripped. It’s gone into a downward spiral again today, along with the major world markets, on the back of the US congress’ refusal to approve a $720bn rescue package for the American banking industry.

The 4th biggest bank in the US, Wachovia, has been bought by its rival Citibank in a similar deal to the LloydsTSB/HBOS merger, the Benelux bank, Fortis, has been partially nationalised to stop if from failing and the Icelandic bank, Glitnir, has been nationalised.

Don’t worry, though, Gordo will save us.

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One comment

  1. axel (1214 comments) says:
    October 7, 2008 at 7:02 pm

    Jings, it is getting exciting tonight, banks going belly up, the government in deep discussions with itself, this is almost as exciting as sept 12……..

    Waiting for it to happen, i hope it is something exciting

    Reply

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