I think a fair summary of the global credit crunch could be made along these lines:
Banks were encouraged by artificially low interest rates and bad legislation to give out more money to people at said rates than these people could afford. Eventually, this all collapsed.
Now the banks have been bitten and the government's response is to force interest rates down even more and apply more draconian measures to make banks carry on doing this ... ?
1 comment:
That's a pretty fair summation, indeed.
And, presumably, the reason for your latest poll?
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