Subprime and credit crunch: it is enough to make your head spin, however, these words have become part of the idiom in the last few months.
Can I ask how the big banks have to pay so much for credit, when the rest of the world's interest rates are hovering, on average, closer to 5%?
Is there a case for starting a thread on the archeology of world credit? And the creation and destruction of credit, and the reasons for it. Or is it a simple case of Economics101 that I do not understand?
I think it would make for a fascinating discussion if anyone wants to contribute.
I can't help thinking 'boo-hoo' when banks whine about how the terms are tighter - even though I hold bank shares. So, I for one, as a shareholder am not interested in receiving a bigger dividend at the expense of my mortgage - or the other people who will be affected.
Can we please not go on about 'people who get over their heads get no sympathy from me!' - that one will be against the rules - ok?
So, the shovel is over to you all. How did we get into this mess and how can we get out of it?