Tuesday, Dec 16, 2008
It ain't working is it? Securitization was a scam that created a housing bubble thats popped
Telegraph.co.uk: Bank of England warns more needed to rescue UK economy as bail-out falters
Despite a blizzard of interest rate cuts from the Bank and a dramatic increase in borrowing by the Government, the economic picture for the UK continues to deteriorates. Manufacturing is contracting faster than expected and figures tomorrow are poised to show a rise in unemployment.
Posted by v stor @ 06:02 PM (223 views) Add Comment
1 Comment
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1. paul said...
"Every single credit led expansion in history has led to financial catastrophe."
Don't know who first said that but it's equally true today as it ever was.