Banker: Is it a dirty word now?

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.

Comments (7)

  • Tiff-Avatar.jpg Tiff @ the BNC
    2 weeks ago

    Fantastic research! We've given this a star because you've shown brilliant curiosity by finding some experts to give their perspectives. This post shows that lots of different people were affected, including those who work in financial roles.

    Can BNC students use curiosity to find out a bit more about some of the things mentioned here:

    1) What does 'tarred with the same brush mean'?
    2) What is a hedge fund?
    3) What happened to Northern Rock in the crisis?
    4) What are the consequences of not being able to get a mortgage?

    Reply to this comment
  • St-Edwards-logo-250x250.jpg thankful_pigeon
    St Edward's Catholic Primary School2 weeks ago

    A 'hedge fund' is a company made in another country( preferably one with relaxed tax rules) to use one is a great risk because one moment you could have a sufficient amount of money but the next, nothing. Then again it could have a massive impact on the amount of money you have and then increase it. All in all it is best just to save money in your own account in you own country

    Reply to this comment
  • St-Edwards-logo-250x250.jpg chatty_temperature
    St Edward's Catholic Primary School2 weeks ago

    1} Tarred with the same brush means to behave badly and if people then wrongly think that all of the group is equally bad,you can say that the whole group is tarred with the same brush.
    2}Hedge fund means it is an investment fund that invests large amount of money using methods that include a lot of risk.
    3} In 2008 the Northern Rock bank was nationalised by the British labour government due to financial problems.
    4} The consequences of not being able to get a mortgage are : your income is not straightforward,you don't have enough cash or you have a job gap longer than six months.

    Reply to this comment
  • Ormiston-Bushfield-logo-250x250.jpg trusting_politics
    Ormiston Bushfield Academy1 week ago

    I do not agree with you because you could argue that bankers have to follow rules. Also you could question whether it is the banks fault.

    You could also look at it like a business , sometimes you need to play hard to keep the business running. I think that the bankers are not to blame they just do what they think is right and try to do their best for the company they work for. Overall I think that it is the banks fault and the way they run it that is the problem not the bankers

    Reply to this comment
  • Notley-Green-logo-250x250.jpg honest_wilddog
    Notley Green Primary School B1 week ago

    i do not think it is a dirty word because you say it all the time

    Reply to this comment
  • Evelyn-Street-logo-250x250.jpg placid_meerkat
    Evelyn Street Primary School6 days ago

    I think this is now a dirty word because people use it like 'posh' that is like a overused and people use it to be like 'I'm posh because I have a lot of money.' So that is like banker, people use it to say, 'I bank a lot of money.' or 'I have a lot of money.'

    Reply to this comment
  • Boutcher-logo-250x250.jpg content_lemon
    Boutcher C of E Primary School2 days ago

    I love this idea @protective_maths! Well done on the star!!

    Reply to this comment

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