As part of my investigations into the 2008 Banking Crisis, I contacted Bentley Reid. They offer tax and financial advice to companies and individuals.
The Funds researcher, Mr Swain commented that work life got a lot busier because of the crisis. The Financial markets were falling, so clients were worried about losing money. Several hedge funds went bust. Personally, getting a mortgage was a lot harder because the UK banks stopped lending money. People were also worried about whether their money was safe at the bank. For example, Northern Rock, which was run by a bank , saw a line of people queuing to take their money out.
Mr Swain felt that 'banker' became a dirty word! All people in finance were tarred with the same brush. People felt that the bankers responsible for the problem should have been locked up but they seemed to have got away with it.
I also spoke to Mr Rogers, the company's Investment Banker. He explained that he had just started a Graduate Wealth Management Role in 2007. "When the crisis hit, the global banking system froze, stock markets crashed and no one really knew what would happen next. But within a few weeks my company announced redundancies (where people lost their jobs). The banking crisis was a 'nightmare'".
My investigation has shown me that people, companies and careers were all affected by the crisis.