Tuesday, September 16, 2008

It would seem I timed my return to the office on one of the most historic, and certainly the most unprecedented, day in the history of the financial markets (as an aside, I love the headline on the linked page).

Two of the Big Five investment banks gone in the space of a day. It's truly unbelievable, and the atmosphere in the office was one of stunned disbelief in the morning, followed by a frantic day at work as we continued to monitor the markets.

If you'd told me at the beginning of this year that three of the Big Five would have been taken over or gone bust, I would have laughed in your face and told you you were mad. But that's what's happened. Next up, AIG - not an investment bank, but might as well be one. The financial ramifications of a collapse of the largest American insurance company would be more far-reaching than the collapse of Lehman and Bear.

It's going to be another interesting day in the office. It makes me glad that I am now in London and able to witness these things as they unfold!

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