Thursday, 28 June 2007

The Debt Disaster: US sub-prime losses hit European funds

Ed: I don't want to distract from the post about Life at the Bottom, but I have been suggesting for some time that our 'usury-based' economy may be of dubious security. If you read the typically 'underclass' newspapers, you will also notice that credit for people who can't afford it is almost as big business as mobile phones.

  • Banks 'set to call in swathe of loans'
  • Queen's Walk suffers from sub-prime crash
  • BIS warns of Great Depression dangers from credit spree
  • The continuing fallout from the collapse in US sub-prime mortgages has forced a UK listed fund that invests in this relatively risky form of debt to close. Read more

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