After publication by Rosario N. Mantegna the paper entitled "Hierarchical structure in financial markets" in The European Physical Journal, the avalanche of scientists have used MST (Minimum Spanning Tree) technique to examine financial markets. In our work we applied this method to analysis of the Warsaw Stock Exchange before, during and after its crisis in 2008. We used daily data to compute cross-correlations and build MST. Then we focused on three typical elements of the analysis: characteristics of a single graph built within wide period of time (almost two years), time dependence of the graph and on the distribution of vertex degree. We found distinct difference between graph built in 'crisis' and 'non-crisis' times. Furthermore, we found that the distributions fit well with the power law and that this law is better fulfilled in the 'non-crisis' periods. Besides, this distribution seems to be robust on selecting subsets of considered stocks. We also tested random synthetic data and found that Pareto power law behaviour is not an artefact but comes from some real significant market properties.

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