I do remember the last financial crisis. People seem to forget that bubbles are unstable and prone to bursting. I must admit that last time there weren't quite the same pressures in the sense of more than one financial institution collapsing, but I guess each financial crisis is unique.., otherwise they wouldn't happen. Its not going to be a comfortable ride thru it, but it never is.
But they do end eventually, we just all have to do what we can to get thru it as best we can. I do remember last time people saying they would never be able to buy a property again, they would never recover etc.., but I am sure most did and probably ended up even better off than they were before the last crisis. It WILL end, in spite of fuel prices going up etc.., we humans are very adaptable and crafty enough to survive things like this I think.
That is exactly the nature of the problem this time, with them going down like dominos.
Once one fails it affects the worth / confidence of the next weakest finacial institution in the row, as well as all others because they are interlinked due to their past greed in "getting a bit of the action"
Once confidence is weakended in the financial markets as it now, then the investors pull out and the whole downward spiral process goes even faster.
The great governments of the World have now a hell of a lot to do to slow this crisis down , let alone stop it in the short term!
The 1980s crisis was very serious, but no way so serious, global and on the scale this is. That is why some financial doomsters are comparing this with the Wall Street Crash of 1929!!
.......and NO I am not old enough to remeber that one!!
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Topic: bradford and bingley is next... (Read 3175 times)