Welcome to BBC Xtra English.

Cath and Louay talk about fat cats - people who have made a lot of money in banking and financial services.

Is it the end of the fat cat era?

Many people who work in the City of London are losing their jobs, or having cuts in their bonuses.

This is because of the credit crunch.

Banking can be high risk but it has high rewards. Bankers earn high salaries and in good years receive big bonuses. They can live the high life.

Philip Augur who used to be head of a bank called Schroeders UK says that some people in the City of London thought the good times would last forever. They haven't saved for the inevitable rainy day.

We asked some people who live in London if they feel sorry for the City fat cats? One woman said their bonuses are obscene. Another said that it was inevitable that belts would be tightened.

Are you affected by the credit crunch? Do you feel sorry for the fat cats?