The Credit Crunch
It seems that the whole world is in turmoil; the financial world seems to be going down the toilet.
It seems that the whole world is in turmoil; the financial world seems to be going down the toilet. How does one cope? Fundamentally the system is fine quite apart from the morality of those city slickers who have made their millions.
In truth the whole issue is about confidence. Everything the government has done has been to try and bolster confidence in the market so that people feel secure in the UK’s financial services.
Maybe I am getting cynical these days, but I can’t help feeling there have been some great offers going around. Barclays buying a profitable arm of Lehamn Brothers, Nomura buying another profitable arm. Lloyds getting HBOS, when the competition authority would never have allowed it previously.
When all of the dust settles, there are going to be some very happy chppies looking out of their 30 storey office windows thinking, in the words of Brucie, ‘Didn’t we do well.’
Meanwhile the average bloke on the street hasn’t a clue whats going on and the banks use the opportunity to clamp down on lending. Well thank goodness for CDFI’s who can make the most of this situation to tell their story to the public at large. You struggling to get finance then come to us and we will see if we can help you.
