Whilst history does tend to repeat itself, surely being just seven years since the last time the sub-prime mortgage market broke, unleashing a financial weapon of mass economic destruction across the world, it is far too soon to be repeating the errors of history... and yet it seems not. Clearly there is another rather of mortgage lenders who are willing to bet that once again the governments of the world will step in to bail out irresponsible banksters. Who knows maybe they are right, I mean the investors in the last sub-prime boom never lost a penny. Still given the impeccable reputation of banks globally and the super effectiveness of regulation by government I am sure we have nothing to concern ourselves with, we are in safe hands.
Posted on: Wed, 19 Nov 2014 00:39:16 +0000
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