Mums Finance

And few are bigger than the American Lehman Brothers Bank. The fourth biggest investment bank in the world has collapsed and is filing for bankruptcy – this will result in the loss of 25,000 jobs worldwide with 4000 of them being in London.

The knock-on effects have most recently been the FTSE plummeting by 200 points in the last few hours. This bank is 158 years old and all efforts to bail it out failed – no doubt the shockwaves are being felt globally in the world of finance.

They say “When the US sneezes the world catches the cold ” but the UK has been feeling the effects of the credit crunch via it’s own financial troubles. The Big Boys are finally coming down.

And is it any wonder? free marketeering and financial institutions operating way beyond their own control; the huge salaries and bonuses enjoyed by those at the top of the banking tree; the huge profits made by these banks and bankers which went into pockets and lifestyles rather than to the small investors and account holders.

Do we feel sorry for these banking giants…? of course we don’t. Those of us who work hard and invest have had to watch in recent years as these banks encouraged reckless borrowing on a ridiculous scale and discouraged those from saving by giving next to no returns.

And add to this the recession which has hit the UK – ongoing massive uncontrolled immigration, growing unemployment – and a Govt turning a blind eye to the situation; start deporting and stop importing so many migrants – the Home Office staff at Croyden should be instructed to take all those paper towers of immigration applications outside and build a bonfire with them. 

And maybe the idea of hiding your money under the mattress is seeming more practical now than ever before.

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