The day started with high winds, rain and the boat and pontoon rocking on a stormy Thames. The financial maelstrom continued with the BBC’s Robert Peston being blamed for the collapse of RBS and other banking shares.
As I write the Dow Jones is even further down at 9719.98…. and Iceland, the country (as opposed to the supermarket), may well go down.
Guido has a plan to stabilise the situation – it involves sticking plaster.
Capitalists@Work – a blog I have been encouraging lawyer visitors to read – has been predicting and covering the current situation with precision…. The end game is nigh?
I quote from Capitalists@Work: “RBS is now on the critical list. Either the Government ‘does an HBOS/Northern Wreck’ or we have a failed bank on our hands which will push the UK over a cliff and probably mangle our financial services business for ever.”
So… a bit rocky…. better have a glass of wine before investors start seeing wine as a safe haven and the juice price goes skywards.
I’m now just getting annoyed. Not worried, I’ve got money in RBS and Icesave, but less than the magical £50,000, so my worst case scenario is that it’ll cause a bit of extra work and hassle.
I’m just annoyed that people are panicking causing the banks to have such problems. People are panicking causing share prices to drop faster than the remains of a pigeon hit by a jet.
Why can’t we just be calm for a minute?