Jump to content
House Price Crash Forum
Sign in to follow this  
Dave Spart

It Started In . . . France!

Recommended Posts

Link

Credit crunch is easing off, says expert - 18/08/2009The credit crunch is starting to ease off as more funding becomes available, an economist has said.

Melissa Kidd of economic forecasting body Lombard Street Research observed that there has "definitely" been an improvement in conditions since the crisis reached its worst point last autumn, when the financial system nearly collapsed.

At the same time, there is a "long way to go" before conditions in the financial sector are back to normal, she warned.

"That will take quite a while and require the continued policy intervention for the next few quarters," Ms Kidd concluded.

Such a situation may make it easier for borrowers to get better products to help with their debt management.

The start of the credit crunch has been traced to the decision on August 9th 2007 by French Bank BNP Paribas to block access to three investment funds that were linked to the US subprime market.

Shortly after this the first signs of the crunch in Britain emerged as the Bank of England intervened to rescue Northern Rock.

Edited by Dave Spart

Share this post


Link to post
Share on other sites

Haw Haw Hee Haw!

Ok so a bank spotted the scam, which started in the City of London by the way, way back.

The Yanks perfected it, our banks bathed in it and now its payback.

Share this post


Link to post
Share on other sites

As Harold Macmillan once said about Charles de Gaulle preventing UK entrance to the European common market:

"The French always betray you in the end"

Share this post


Link to post
Share on other sites
As Harold Macmillan once said about Charles de Gaulle preventing UK entrance to the European common market:

"The French always betray you in the end"

There are two ways of looking at it though.Surely it was better for it to be flagged up as early as possible before the bubble got even bigger? If it had been kept quiet for another year the effects could have been far,far worse.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   285 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.