Essentially I am asking a series of 'why?' and 'who?' questions to trace what happened leading up to the credit restrictions last summer.
I believe this is an interesting question - primarily because I believe the bubble was much deeper and longer than it ought to have been. Many pundits agreed.
So, who had the lightbulb moment and acknowledged the elephant in room - the actors and players in the game? The realisation that the value Americans sell their labour for (that's if they even work!) could never pay for their debts.
Full Version: What Instigated The Credit Crunch?
QUOTE (Dum Dum @ Jul 9 2008, 04:23 PM) 
Essentially I am asking a series of 'why?' and 'who?' questions to trace what happened leading up to the credit restrictions last summer.
I believe this is an interesting question - primarily because I believe the bubble was much deeper and longer than it ought to have been. Many pundits agreed.
So, who had the lightbulb moment and acknowledged the elephant in room - the actors and players in the game? The realisation that the value Americans sell their labour for (that's if they even work!) could never pay for their debts.
I believe this is an interesting question - primarily because I believe the bubble was much deeper and longer than it ought to have been. Many pundits agreed.
So, who had the lightbulb moment and acknowledged the elephant in room - the actors and players in the game? The realisation that the value Americans sell their labour for (that's if they even work!) could never pay for their debts.
There was a glut of bad news in August 07 but according to creditwritedowns.com it started way before that.
For a timeline of events go to www.creditwritedowns.com
QUOTE (bobby9983 @ Jul 9 2008, 04:35 PM)
There was a glut of bad news in August 07 but according to creditwritedowns.com it started way before that.
For a timeline of events go to www.creditwritedowns.com
For a timeline of events go to www.creditwritedowns.com
that really is a cracking site - some of the broadsheets both sides of the pond started logging these events, but the timeline on there is bl00dy awesome - thanks bobby
This is a "lo-fi" version of our main content. To view the full version with more information, formatting and images, please click here.