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£20 billion and counting!

The Bank of England has injected another £20 billion into the ailing UK money markets as yet more doom and gloom descends upon the Square Mile. News from the States would indicate that AIG (the largest insurance company in the world) has only 24 hours to sort itself out and stave of bankruptcy. This for a company with investment assets totalling over $1 trillion is truly breath taking and many in the financial markets cannot understand how the group is tittering on the brink.

To make matters worse it seems as though the US government is no longer willing to support any ailing financial groups which has spooked investors and led to a near drought in the worldwide money markets. The credit crunch is most certainly biting back and this time it is a lot more serious than the first time around.

We are seeing new issues each day, a whole host of well known companies struggling and tension mounting in the investment markets. Stocks which were deemed to be Blue Chip only a few days ago are at serious risk of downgrades from the credit agencies and whole industries are trying to get together and create rescue funds to safeguard the financial markets around the world. These really are unprecedented times.

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