RE: Is my money safe?

October 13, 2008

No one’s money is safe these days, as an increasing number of banks across the US and Europe face a liquidity shortage, become insolvent and are consequently  nationalised.  But having no money, or at least very little money, is suddenly an advantage: I’m not losing sleep over my own personal prospects in a collapsed economy, even if I am losing sleep thinking about how it affects my work.

Despite my near penniless status, one way to make me feel just a touch of anxiety about this whole “the sky / economy is falling” crisis going on is that my bank just emailed me to say that they are a sound financial institution.  Of course, as soon as you need to write to your clients reassuring them that you are sound, it’s probably too late.  While the right hand is typing “everything is fine” the left is picking up the hot-line to the Fed to seek a liquidity injection.   So, I would like to reply to my bank, don’t tell me everything is fine.  As long as I don’t see your name on the front page of the Financial Times tomorrow morning, I’m going to sleep very well indeed, thank you very much.

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