On Black Thursday a devastating share crash in FTSE -- Dax -- Dow Jones happened. It was the biggest one day plunge since 2009. The FTSE lost alone £50billion.
Although markets can change in minutes and in the present situation it is easily to panic but it has to taken seriously. However, Governments have to sit down together sort this global financial problem out.
What was more than surprisingly the bankers who sat awhile ago looking in disbelieve into their computer screens, went to a party soon after. There were about 4,000 bankers having a more than good time. They drowned their non-existing sorrows in champagne, ate oysters. The party cost all together £80,000, at least. They were served with 'free' cocktails, had a gamble on roulette tables and danced absolutely wild and full of joy. They still drove away in supercars.
Apparently, in spite of the crash they still reaping the rewards.
Another global share crash happened on Friday. The FTSE lost £38bn and on Monday another £46bn.
The Business Secretary Vince Cable warned banks not to use "gaming tactics". He received reports of banks calling in overdrafts and reissuing them with higher fees. This would also count towards their bonuses.