Debt Fears Citigroup Merrill Lynch Dow Jones Fed

Shares tumbled virtually everywhere at some point on Thursday and or Friday as fear seemed to rush accross financial markets.

The world's largest bank Citigroup shares tumbled, don't know what they are at present or if they have rallied after some analysists predicted it may need to raise as much as $15 billion, that is $15,000,000,000,000 quite what for at present we are not yet certain but it might need to sell assets, cut dividends or issue more shares, or all three - quite a 'large' situation do we not think?

Credit fears and continuing debt have been sending severe signals all around the world, how this is all going to effect the UK we can still only speculate but we suspect fuel to repeat of the crash of 89 is one inevitable outcome.

Sterling reached $2.0870 and oil $96 per barrel and many US investors headed for government bonds, just how safe they prove to be we will see!

US base rate was cut to 4.5% but UK rates are likely to stay put at least until springtime, let's all watch this space.

One fund manager claimed there is still three times as much bad debt write off to come as has already been effected. Lets not forget monumental size write offs by merrill Lynch and Citibank so again, let's all watch see what happens stemming from the FED US Fereral Reserve