A disappearing world

Unlike previous recessions we have known this one has affected both capital and income. Previously while the capital of a trust fund may have been badly affected, many of the losses were unrealised and therefore entirely theoretical. However, this recession has hit those who are the most vulnerable and who, in many cases, were the reason why the trust was established in the first place. In particular many trustees had invested in bank shares, and why not? Were not banks almost equivalent to being as safe as houses or as safe as the Bank of England? Now being overweight in bank shares, to us...