BBC Spinmasters: Credit crunch 'to hit UK growth'

"The credit crunch is also expected to raise the interest rates that banks offer to mortgage customers, but the Item Club does not expect that to lead to a serious correction in house prices. The real victims will be among formerly fast-growing parts of the financial sector, which may be a good thing, according to the Item Club's Peter Spencer. "Having to reverse gear may not be such a bad thing," he said. The report cites over-exposed hedge funds, private equity businesses and property buyers who have borrowed a very high proportion of the value of their properties as groups most likely to be hit" Item Club, stop please ahah ahahh my sides are aching, stoooooppp ah ah