Financial Markets In Turmoil
- By Chief Editor
- Published 17 Sep 2008
Chief Editor
Experienced IT professional and frequent blogger with a special interest in technology, the internet, photography and motoring.
Unless you have had your head in a bag for the last few days, you cannot have failed to hear about the turmoil being experienced in the financial markets of the world.
Lehman Brothers, the 4th largest bank in America, have filed for bankrupcy.
The largest insurance company in the world, AIG, have been bailed out by the American Government to the tune of $85bn.
And British banking shares have been up and down "like a cork in a
bath" as one leading financial expert put it.
Today HBOS shares dipped to below £1 in early trading, but when news of a potential takeover by Lloyds TSB emerged the HBOS shares bounced back to over £2 at one point.
News reports say that an HBOS / Lloyds TSB merger could mean the loss of 40,000 jobs and many branch closures.
It's a brave man (or woman) who puts money into the stockmarket (and especially the banking sector) at the moment!
Lehman Brothers, the 4th largest bank in America, have filed for bankrupcy.
The largest insurance company in the world, AIG, have been bailed out by the American Government to the tune of $85bn.
And British banking shares have been up and down "like a cork in a
Today HBOS shares dipped to below £1 in early trading, but when news of a potential takeover by Lloyds TSB emerged the HBOS shares bounced back to over £2 at one point.
News reports say that an HBOS / Lloyds TSB merger could mean the loss of 40,000 jobs and many branch closures.
It's a brave man (or woman) who puts money into the stockmarket (and especially the banking sector) at the moment!