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melbournejo

Listed below are comments made by melbournejo between Monday, 15th September 2008 and Monday, 15th September 2008.

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Meltdown Monday 07:16am on 15 Sep 2008 It's been interesting watching this whole episode unfold from the relative (and I use that word cautiously) safety of the Australian financial system. Whilst there has been impact to date, compared to the fallout in the US and UK it has been relatively small beer.

The interesting thing now will be to see how far the ramifications of the failure of a top tier bank rumble through to areas that to date have been fairly unscathed. I think this will be another one of those days that we will reflect back on in the future.

I also spare a thought for all those people that basically have lost their jobs today. There has been a lot of vitriol towards the fat cat bankers and their ill gotten gains, but the reality is that these institutions employ people from all walks of life, most of whom take home a normal salary to pay for the mortgage and all of lifes other expenses, I hope the world treats them a little more kindly and helps them to find alternative employment.

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