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ajay

France Started The Credit Cruch

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The credit crunch started on 9 August 2007 when French bank BNP Paribas suspended three funds facing losses on US sub-prime mortgage lending. That caused banks to stop lending to each other.

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how can you blame the french bank for trying to protect it's capital?

it was a bubble waiting to collapse , whoever started the ball rolling is irrelevant - the fundamentals were horrible

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Guest Parry aka GOD
Economic reality doesn't exist.

I'll go with that actually. Well it does, but many don't want to recognise it.

You cannot consume more than you produce or consume more than your planet can sustainably provide. You also cannot print human ingenuity and invention, physical resources and production of real things . . . which is what money should represent. But sadly doesn't.

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The credit crunch started on 9 August 2007 when French bank BNP Paribas suspended three funds facing losses on US sub-prime mortgage lending. That caused banks to stop lending to each other.

First the Iraq war, now this.

How disgusting that the French keep pointing out reality!

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