Paloth opened this issue on Sep 18, 2007 · 86 posts
XENOPHONZ posted Fri, 21 September 2007 at 2:52 PM
Hmmmm......interesting. Don't know many details yet -- but I'm hearing that there's a run on the banks going on in Britain right now. This story is not being widely reported in this country (US).
http://www.guardian.co.uk/frontpage/story/0,,2171546,00.html
((This is a sidenote concerning posts earlier in this thread.))
BTW - the sub-prime loan thing is a perfect example of just how two-faced government policy can be. For 20 years or more, the government's official line has been to jump on the banks for being socially prejudiced & not providing housing loans to low-income people in the inner cities, etc.. And now.........it's those very loans that are being defaulted on -- so the government is (of course) jumping on the banks over the issue of how DARE they have made such risky loans in the first place?
It's all GWB's fault. He underwrote them all. Personally.