the corner office

a blog, by Colin Pretorius

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Black Monday

Jeez. Today was historic, and I, like most people, wonder just where it's all going to end up.

I have two thoughts.

First, where were the auditors during all of this? It isn't a talking point right now, but all those financial statements which, with hindsight, hugely misrepresented the financial health of some of these banking institutions, were signed off by auditors. I am sure there are some particularly nervous audit firms out there right now.

Second, I am extremely grateful that I work where I do. When I got a job in London last year, I was primarily looking for work in the city, but eventually took a job outside of banking. I would be lying if I said it was due to any particular astuteness on my part - I was just really excited about the kind of stuff my employer was doing. And I know better than to be smug, because you never know what's around the corner - but I will say that I don't envy the poor buggers in banking and finance IT who're now sitting without jobs or seeing their departments and budgets evaporating because of the credit crunch.

{2008.09.15 - 16:57}


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