And one person who would definitely be feeling the effects of it would be Superannuation and Corporate Law Minister Nick Sherry as his portfolio is one that has been significantly affected.
But the minister is being haunted by the acronym on a different level too.
He is a self-confessed fan of the Geelong Football Club in the AFL and of course the acronym for that sporting organisation is also GFC.
Of course Geelong was beaten in the AFL grand final last year by Hawthorn despite the fact it entered the match as an unbackable favourite.
And if Sherry is like any of the other diehard Cats fans, the loss would to this day still be a bitter pill to swallow.
He said of that afternoon in September that he thought he'd seen the worst of the GFC, but it would unfortunately appear for the minister the worst of the GFC is now almost being redefined on a daily basis.
