As more clients are confronted with shrinking retirement portfolios, layoffs and hardship getting bank loans for their business and personal needs, accountants are being asked for advice on how to survive through lean times.
The spreading crisis in the credit, mortgage and banking markets is causing repercussions in many people’s lives, both at home and at work. While the Dow takes investors for wild rollercoaster rides day after day, there is increasing uncertainty about what is going to come next. The federal government has been steadily expanding its rescue plan for financial firms and banks, but there has been little concrete action taken so far on bailing out families and small businesses, even though proposals from the presidential candidates and various pundits abound.
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