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Naked bankers
Sep 16, 2008, 03:36 AM
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Richard
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Sep 16, 2008, 03:36 AM
The fallout from the credit crunch continues with the plug being pulled on investment bank Lehman Brothers yesterday and the London stock market falling by 212.5 points (4%).
The Times reported this was ‘the darkest day for the stock market since…’. You might be forgiven for thinking that the previous darkest day was perhaps in the late 1920s, but for the paper it turns out to be 21 January, when it [the stock market] fell by 5.5%’.
Of course, every cloud has a silver lining and the price of oil also fell to below $100 a barrel for the first time in six months. ‘Gas guzzlers’ have therefore had a reprieve, so fewer calls for a cut in fuel taxes for the time being, I suppose.
Shares in the world’s largest insurance company, AIG, fell by 45%: bad news for its shareholders and Manchester United supporters, which it sponsors (expect outrage from VAT expert Neil Warren soon), but good news for supporters of every other club in the land.
Is there some kind of VAT rebate for anyone if AIG have to cease their sponsorship? If there is no doubt Neil will let us know – and is there VAT on a prawn sandwich?
The Page 3 financial correspondent of The Sun is also naturally concerned (or should that be as nature intended, but I digress) at the failure of Lehman Brothers.
Katie (23, from Liverpool) worries that ‘everyone seems to be suffering in this credit crunch. You just wonder who will be the next to go’.
Your guess is as good as mine, Katie, but it looks like The Times is thinking along similar lines in its leader article. ‘What does all this mean for the rest of us? What happens next? Traders are uncertain about who is left exposed.'
Er, I am not sure about the first two, but I think Katie, 23, from Liverpool, could help answer that last question.
Katie, I should be ready to get your kit off again in the very near future, when you can let us know who actually was the next to go.
More seriously, when you get right down to it, it seems that the financial wizards who were running our great economies were wearing as little (metaphorical) clothing as Katie, but whether you think those bankers were as good looking in a pair of skimpy undies as her is probably not a matter for discussion here.
Especially not as Taxation's computer system prevents me linking to her picture for your reference.
Best get back to more serious discussions I guess.
Discuss tax at Taxation.co.uk.
The Times reported this was ‘the darkest day for the stock market since…’. You might be forgiven for thinking that the previous darkest day was perhaps in the late 1920s, but for the paper it turns out to be 21 January, when it [the stock market] fell by 5.5%’.
Of course, every cloud has a silver lining and the price of oil also fell to below $100 a barrel for the first time in six months. ‘Gas guzzlers’ have therefore had a reprieve, so fewer calls for a cut in fuel taxes for the time being, I suppose.
Shares in the world’s largest insurance company, AIG, fell by 45%: bad news for its shareholders and Manchester United supporters, which it sponsors (expect outrage from VAT expert Neil Warren soon), but good news for supporters of every other club in the land.
Is there some kind of VAT rebate for anyone if AIG have to cease their sponsorship? If there is no doubt Neil will let us know – and is there VAT on a prawn sandwich?
The Page 3 financial correspondent of The Sun is also naturally concerned (or should that be as nature intended, but I digress) at the failure of Lehman Brothers.
Katie (23, from Liverpool) worries that ‘everyone seems to be suffering in this credit crunch. You just wonder who will be the next to go’.
Your guess is as good as mine, Katie, but it looks like The Times is thinking along similar lines in its leader article. ‘What does all this mean for the rest of us? What happens next? Traders are uncertain about who is left exposed.'
Er, I am not sure about the first two, but I think Katie, 23, from Liverpool, could help answer that last question.
Katie, I should be ready to get your kit off again in the very near future, when you can let us know who actually was the next to go.
More seriously, when you get right down to it, it seems that the financial wizards who were running our great economies were wearing as little (metaphorical) clothing as Katie, but whether you think those bankers were as good looking in a pair of skimpy undies as her is probably not a matter for discussion here.
Especially not as Taxation's computer system prevents me linking to her picture for your reference.
Best get back to more serious discussions I guess.
Discuss tax at Taxation.co.uk.
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