Sunday, September 9, 2007
This will be interesting
Britain's biggest banks could be forced to cough up as much as £70bn over the next 10 days, as the credit crisis that has seized the global financial system sparks a fresh wave of chaos.
Best quote "The sub-prime crisis has exposed the structured credit asset class as highly dubious. In five years' time it won't exist." so it looks like easy mortgages on lax terms will not exist as well.