Wednesday, April 23, 2008

Mortgage Slump

The liquidity crisis has had a devastating impact on mortgage approvals, they fell by 50% last month to their lowest level in 10 years.

Alistair Darling pleaded with bankers yesterday, to pass on rate cuts. He was given the metaphorical finger, and was told that rates would to continue to rise.

An image of Canute on the beach, readily springs to mind.

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