There goes civilisation...

Financiers, traders and economists don't mind it. For other people I'd either talk about the normal business cycle or just spell out what was actually going on.

London and New York, in particular their glided financial centres have the capacity and propensity to rebuild after these kind of events.
It isn't the same as the now desolate fishing/mining/milling/industrial towns up and down the land. Those are devastated communities, Chelsea will get over it I am sure.

London and New York, in particular their glided financial centres have the capacity and propensity to rebuild after these kind of events.
It isn't the same as the now desolate fishing/mining/milling/industrial towns up and down the land. Those are devastated communities, Chelsea will get over it I am sure.

Good post

HBOS is looking fragile

care to expand on that?

HHSB going stronger than ever, though

There are liquidity concerns and current accounts are being emptied...
General consensus is that this may be an overreaction but don't underestimate the power media sensationalism.

HHSB going stronger than ever, though

Afraid not. Spok shares are falling steeply.

Repost, sorry all, just couldn't resist:

That's great

from an article in the times today:
*"...a former Lehman Brothers trader who had 11 years of bonuses locked in as shares until next year, watched helplessly as his dreams of early retirement evaporated. At their height, the shares were worth several hundreds of thousands of pounds. Many of his former colleagues at the bank, which he left in March, would be much worse off, he said. 'For managing directors, 50 or 60 per cent of their bonuses were paid in stock, so for some people that would mean $2.5 million to $3 million. I know a lot of people at Lehman who have spent the money already - they have bought holiday homes or other things.' "

*
average wage in the UK for a Lehman worker £335,000

the poor downtrodden fat tongued, fat tied, wanker bankers
my heart bleeds for you.

Oh dear - what's that old saying about eggs in one basket?

don't put 2.5 million to 3 million eggs in one basket?

yeah screw all these bankers.

They dont spare a thought for others when they are spunking there 100K bonuses on Porsches, Champagne and Coke.

Its these bastards that have been pushing up the house prices the past ten years, what comes around goes around.

...and counting chickens.

That's the one. That basket would be too big to lift.

so basically with this whole economic thing. the rich got richer and the poor poorer

Unless they were into eggs..

Totally impractical. Maybe some panniers and an archie's, but not one basket

so basically with this whole economic thing. the rich got richer and the poor poorer

yes

The rich will only get richer in this market - my old boss who is essentially an asset stripper liquadated all his stocks last summer, and now is cash rich and buying up companies left right and center

If you have got large amounts of cash in the bank now, you are laughing.

As for city workers, sure there are a few cunts, but most are just doing a job like you and me and a lot of people are now facing ruin - probably half my friends work in the city, and most of them work there so that they can send their kids to goood schools and have a good qulity of life.

...and counting chickens.

don't give 2-3 million eggs in one basket to an innumerate chicken?

What is an asset stripper?

Buy cheap, forget about adding value, sell off the best bits, dump the -edit-(usually indebted) rest.

Buys a failing company, then sells off all its assets for a profit, or builds it back up through a cash injection then sells it for a profit

What is an asset stripper?

Not as sexy as it sounds but twice as dirty.