Whoops there goes another .....

29 Sep, 2008 15:33

Those of a certain age will recognise those words as the chorus to an awful song about disappearing rubber plants; don't ask. But, what on earth is happening in the financial community, whoops there goes another bank; has there ever been a precedent? I suspect not, we've seen individual banks go the wall before but I don't recall so many having their soft under bellies exposed. Was the 30's a similar circumstance?

Please discuss.

Comments

Added: 29 September, 2008 - 16:01 | Paul Penrose - Finextra - London

Maybe the physicists at Cern were forced to switch off their Large Hadron Collider last week not because of a helium leak, but because of the sudden appearance of a black hole over Wall Street. This would explain the mysterious overnight disappearance of the entire investment banking sector and the imminent collapse of the entire banking system as other institutions are gradually sucked into the abyss.

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Added: 29 September, 2008 - 16:56 | Roy McPherson - Macroy Consulting - London

Paul - Now there's a thought.

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Added: 29 September, 2008 - 17:37 | Dean Procter - Transinteract - Sydney

Looks like the only way to not go down the plug hole is by being too big to fit. Pretty big plug hole though.

Looking for ways to come together might provide some safety, albeit not quite satisfaction.

The big guys are likely to get all the 'bargains'.

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Added: 30 September, 2008 - 09:43 | Roy McPherson - Macroy Consulting - London

Dean I think you're right, you either need to be too big for the plughole or the wrong shape.

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