Market update
Well well, it’s been quite a week. We’ve seen a meltdown in the financial markets that has unsettled even the most experienced players. In fact, it took on such proportions that there was a very real, systemic risk of the whole financial system breaking down. Not surprisingly, this has triggered a global response from governments. After the US took the initiative in announcing measures, it now seems that the UK has initiated the right response in buying stakes in the troubled banks, forcing them to own up to a much larger figure of cash needed than they previously communicated.