Skip to content

Stock exchanges in Britain and the USA have been on the slide over the past few days. The reason is not hard to seek. The FTSE has been spooked by bank shares collapsing. Barclays, for instance, saw 25% of its share price shaved off in one hour last Friday (16.01.09). This was the day after the bank announced 2,100 job losses.It’s starting to look like the time back in October when it seemed that banks such as Barclays and the Bank of Scotland (now HBOS) that had been in existence for hundreds of years would be destroyed by a share collapse in a matter of hours.