"Tell me why I don't like Mondays
Tell me why I don't like Mondays
I could shoot the whole day down"

Never has Sir Bob Geldof ever been so right.

Monday, March 2nd was the sort of day that, when we go home, we'll tell our spouses that this was one hell of day.

Why?

1) Days after Warren Buffett said the market was going to be horrible until 2010, HSBC then tell the world that they're going to ask for £12.5bn to shore up capital after a particularly sucky 2008 year - mainly thanks to their US sub-prime mortgage time.

At the same time, Amlin says that everything's going well. Thank God they didn't 'do' a rights issue like their Lloyd's rivals.

2) Across the Atlantic, Bermudian rivals IPC and Max Capital said that they were merging.

A FEW HOURS LATER....

3) AIG comes up with the godfather of losses - $61.7bn in the fourth quarter of the year. We were midly disappointed they didn't break the $100bn loss barrier for 2008, but then again, there's still 2009.

And while this was happening, the FTSE and Dow Jones were absolutely tanking.

Could it get any worse this week? it's only Monday, for crying out loud!!