Friday, January 4, 2008

Too much debt…where to go?

Economy at risk from 'debt famine'

Households and businesses face a "debt famine" this year, experts warned last night after the Bank of England reported a sharp drop in banks' willingness to lend cash. The Bank's closely-watched new Credit Conditions survey showed that lenders had embarked on a dramatic clampdown on borrowers in both the household and the corporate sectors after turmoil in money markets across the world.

Posted by hpwatcher @ 09:11 AM (413 views)
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2 thoughts on “Too much debt…where to go?

  • It is about time the banks and other lenders scaled down the amount of money they are prepared to lend. They have been incredibly reckless and their problems with increasing bad debt are the result of their own stupidity and greed.

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  • It’s about time some people went on a “debt diet” !

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