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The problem in 2008 was that credit dried up! Remember? The "credit crunch"? A lack of available credit? Which ground the economy to a halt? #facepalm
by cbeach 11y ago
The problem in 2008 was that credit dried up! Remember? The "credit crunch"? A lack of available credit? Which ground the economy to a halt?
#facepalm
- branchless 11y agoI'm afraid you are looking at the problem from the wrong end. You are looking at an event and associating it with the immediate result. Banks lost trust in each other and stopped lending because they knew many were going to fail due to over-issuance of credit leaving them far too leveraged. Citigroup head: whilst the music is playing we keep dancing. Your use of twitter hashtag in this debate seems very young. When you fall off a building it's only the last second that is a problem. Your solution is to keep digging a hole faster than terminal velocity. Mine is to not jump off the building.