The Crisis of Credit (2 of 2)

The Crisis of Credit (2 of 2)

The Crisis of Credit (2 of 2)

The short and simple story visualised by Jonathan Jarvis

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Guest: Richard (272 days ago)

Latest comment: "This omits one important thing. Because the banks are in trouble, they no longer have money to lend to anyone, not even the safe risks (sensible homeowners, profitable businesses etc). That means almost nobody can get a mortgage, and it freezes the house-market solid. It also means that ordinary businesses can't continue to borrow (sensibly) to run their day-to-day affairs. "

Guest (273 days ago)

Assumption is the mother of all f**kups Edward.

Guest (273 days ago)

They knew what was happening. The banks and investment institutions are made up of individual people on big salaries and no liabilities. And guess what.. they are all still rich (except the stupid ones that took out mortgages themselves). They may be pulling beers currently but they can buy the pubs with their redundancy packages. They knew what they were doing, don't you worry about that.