they really fuck it it up.
============
In particular, the collapse of US investment bank Lehman Brothers had sent a massive shock wave across global financial markets. It was supposed to be solid and deemed to be too big to fail. After Lehman's death, banks in the US and Europe are so scared of making another bad loan that they have stopped lending altogether. They would rather sit on their cash.
This has started to hit ordinary folk in the United States in a big way. Even creditworthy borrowers - those who passed the criteria I mentioned just now - have problems getting loans. If even triple-A rated General Electric, the world's largest conglomerate, experiences hiccups with its short-term fundings, you know that there is a serious credit crunch problem.
============
In particular, the collapse of US investment bank Lehman Brothers had sent a massive shock wave across global financial markets. It was supposed to be solid and deemed to be too big to fail. After Lehman's death, banks in the US and Europe are so scared of making another bad loan that they have stopped lending altogether. They would rather sit on their cash.
This has started to hit ordinary folk in the United States in a big way. Even creditworthy borrowers - those who passed the criteria I mentioned just now - have problems getting loans. If even triple-A rated General Electric, the world's largest conglomerate, experiences hiccups with its short-term fundings, you know that there is a serious credit crunch problem.
