www.peoplestandup.ca by Terrence MdKenna’s voice that this is from “DocZone,” a CBC.ca The credit crunch The global financial crisis (GFC) or global economic crisis is commonly believed to have begun in July 2007 with the credit crunch, when a loss of confidence by US investors in the value of sub-prime mortgages caused a liquidity crisis. This, in turn, resulted in the US Federal Bank injecting a large amount of capital into financial markets. By September 2008, the crisis had worsened as stock markets around the globe crashed and became highly volatile. Consumer confidence hit rock bottom as everyone tightened their belts in fear of what could lie ahead. The sub-prime crisis and housing bubble The housing market in the United States suffered greatly as many home owners who had taken out sub-prime loans found they were unable to meet their mortgage repayments. As the value of homes plummeted, the borrowers found themselves with negative equity. With a large number of borrowers defaulting on loans, banks were faced with a situation where the repossessed house and land was worth less on today’s market than the bank had loaned out originally. The banks had a liquidity crisis on their hands, and giving and obtaining loans became increasingly difficult as the fallout from the sub-prime lending bubble burst. This is commonly referred to as the credit crunch. Although the housing collapse in the United States is commonly referred to as the trigger for the global financial …
Senator Akaka, talks about his humble beginnings, learning the importance of saving and financial literacy, and his efforts to educate and protect American consumers. This video was created as part of YouTube Town Hall, answering the question “Given that 50% of Congress people are millionaires; do you represent the average American?”. To view the debate and choose the side, please visit www.YouTube.com
On the Tuesday, November 22 edition of the Alex Jones Show, Alex hosts from the road with Infowars Nightly News co-host Aaron Dykes riding shotgun at the Austin, Texas command post. www.infowars.com www.prisonplanet.tv
It took 150 years to blow up the banking sector – a brief history of a slow detonation. From Freedomain Radio – www.freedomainradio.com Sources www.bankofengland.co.uk
