Absolute meltdown in the city today and globally

[bhaexpress]

Over the years I have worked in many different industries. I always thought that oil and pharmaceutical companies were the worst for wasting money right up until I was working at a bank for a few months. It's a bit hard to have that much sympathy for some (not all) bank employees, many of whom are paid rather more than they are worth.

Mind you, there's more than a few like that in the Civil Service and they are just about bullet proof.

 

[Uncle C]

Maybe, now, the Banks will regret paying the hugely unrealistic salaries and bonuses to the barrow boys & girls in the square mile. They'll have to take the rough with the smooth.

Seconded.

We'll probably see a glut of Porches on the market now.

 

[Barrel of Fun]

Spare a thought for Zimbabwe who are suffering from 11,000,000% inflation.

 

[Bozza]

Seconded.

We'll probably see a glut of Porches on the market now.

I imagine some will have to sell their entire house, not just the little bit on the front.

 

[One True BHA]

sell it? or have it taken from them?

 

[Beach Hut]

Bad news but not really unexpected

 

[Uncle C]

I imagine some will have to sell their entire house, not just the little bit on the front.

Why is it I'm struggle to conjure up any sympathy?

 

[Icy Gull]

I imagine some will have to sell their entire house, not just the little bit on the front.

I see what you did there

 

[Silent Bob]

Spare a thought for Zimbabwe who are suffering from 11,000,000% inflation.

If anything a little economic struggle might bring us more in line with how MOST people in the world have to live....

 

[Deleted User X18H]

..........

 

[Deleted User X18H]

...

 

[withdeanwombat]

I'm gonna get all my money out and hide it under the bed.
Then when it has all gone tits up - I shall be KING!

Only if you can trump my one and tuppence threefarthings.

 

[Beach Hut]

At times like this perhaps we under estimate our current employers......

 

[Arthritic Toe]

Arriving back in this country 5 years ago after several years in the wilderness it was very obvious that something was badly broken. People on minimum wage were driving around in BMW's financed by serial remortgaging. Every dinner conversation was about houseprices, and how much everyone had earned just by sitting back and doing nothing, and how great it was that you could walk into the bank and remortgage and release all that equity, which you could then spend on big cars and TV's and stuff. Everyone was brainwashed, everyone was sucked in.

Funniest thing of all, the clever policy makers at the banks actually believed that this was a sound business model for them. Gordon Brown boasted that he had prudently steered the economy through x consecutive quarters on growth.

The amazing thing is not that it is all now collapsing, but just how many people at all levels thought that it could go on forever.

 

[Lokki 7]

The major worry is that AIG might fail, which will probably lead to a Morgan Stanley collapse, which combined with what's already happened would f*** over just about every financial institution globally. The result would be that we all lose our jobs, not just the "overpaid" city bankers. Forget the money under your bed, it will be worthless. Stock up on gold water and AK-47's my friends.

 

[Lady Whistledown]

Presumably- and I say this very much from a woman, fluffy kittens, point of view, the people most likely to be affected by an impending financial crises are the working and middle classes?

The phenomenally rich will just become fairly rich, the people sitting at home in their council houses claiming benefit and watching Jeremy Kyle on 50" plasma screen TVs all day will continue in exactly the same vein, therefore it's the people who work for a living and neither live off the state nor their inheritances that will suffer?

 

[Billy the Fish]

The major worry is that AIG might fail, which will probably lead to a Morgan Stanley collapse, which combined with what's already happened would f*** over just about every financial institution globally. The result would be that we all lose our jobs, not just the "overpaid" city bankers. Forget the money under your bed, it will be worthless. Stock up on gold water and AK-47's my friends.

So does that mean the plans for Falmer will definitely have to change

 

[Uncle C]

I am so glad I got out of th City when I did and with so much!!!!

And you wonder why people dislike you.

 

[Barrel of Fun]

Predicted by The Rt Hon Lokki 7 on 19th February 2008...

says tv... - North Stand Chat

Basically, the whole financial system is going to collapse. Unemployment is going to skyrocket, house prices plummet and money will become worthless as the global banking system implodes. I strongly suggest that you liquidate all of your assets (including your home) now while they are worth something. Use the money to buy gold, a tin hat and a deposit on a rented flat, then wait for the fun to start.

I hope you heeded his advice folks.

 

[User removed 4]

As the financial industry brings in 17% of the country revenue, then you probably do need them.

I can see directly into Lehmans offices here in the wharf from my desk, and there are defintely people in there. Can't be sure whnat they're doing mind.

lehmans lease space to other firms in that building, this may be what you can see, i work just round the corner and may have a stroll past later , but it might be a bit ghoulish actually