How Black Monday sowed the seeds for the current financial crisis

Updated On: 28 October, 2012 06:16 AM IST | | Simon Goodley

The 1987 financial crash turned out to be the pricking of a stock market bubble, but many think it was the start of 'moral hazard', where bankers began to believe they would always be saved no matter how expensive their mistakes

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How Black Monday sowed the seeds for the current financial crisis

Earlier today, apparently, a woman rang the BBC and said she’d heard there was a hurricane on the way. Well, if you’re watching, don’t worry, there isn’t.” So said BBC weatherman Michael Fish on October 15, 1987.

Pic courtesy/Stefano Tartarotti/ Bildagentur-online/ Tips Images