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Posted AT 1:00 PM EST on 20/09/08

Famous for excess, the party's over in the City

JILL LAWLESS

The Associated Press

LONDON — This is a bad time to be a purveyor of $1,900 pens. Or a seller of champagne, sports cars or big bouquets of flowers. Few people feel like splurging in the City, as London's financial district is known. Instead, it is convulsing from the aftershocks of the crisis on Wall Street. Thousands of jobs have already been lost, financial institutions have disappeared overnight, rumours swirl and no one knows where it will end.

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