Wednesday, July 16, 2008

Mainstream starts to grasp scale of problem

It’s worse than we feared and there’s more pain to come

The spectacle of customers queueing outside a small California bank on Monday to withdraw their deposits was unsettling enough for an American public already traumatised by a year-long financial crisis.

Posted by gardeniadotnet @ 08:04 AM (730 views)
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One thought on “Mainstream starts to grasp scale of problem

  • gardeniadotnet says:

    Love the optimism in this paragraph….

    It will end, of course, in time. House prices will fall to a level at which they look cheap again. Banks will finally clear the backlog of dead and dying assets from their books.

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