That'll be the cause of the credit crunch to be sure

http://www.irishtimes.com/newspaper/opinion/2009/0225/1224241774267.html?via=mr
(ws)

 

My wife's doing her best to help by spending and not working.

Any opinions on this theory?
http://www.telegraph.co.uk/comment/...598/The-EUs-role-in-our-financial-crisis.html
Nobody else seems to agree with him.

 

i'm not so sure. i think it's because we don't pay enough tithes to the
church.

 

Sounds like someone has been told he might be losing his job unless he
starts selling papers.

Not suprising really. The whole fucking world knows whats caused the
credit crunch.

Everyone that could possibly borrow had already been turned into Ponzi
recruits. To fill the void the banks had to ask the existing recruits
to start paying back some of the money. Not easy if you're one of the
people given a loan when you just couldn't afford the payments and
"weren't savvy enough to turn them down" [1].

I the the paragraph in that article with the question "Why did lenders
make loans that borrowers couldn't repay? "
Mortgage brokers are paid for writing loans, and aren't docked if those
loans fail.


[1]
http://www.npr.org/templates/story/story.php?storyId=9085408
http://preview.tinyurl.com/bwwajq

 

This explains it quite nicely too:

 

DozynSleepy posted:

It's quite simple. Modern economies use Fiat currency, and it broke
down.

 

That's bloody great! Funny and informative.

 

Heh, I *was* going to buy AndrewRs Fiat Coupe.

After the theft of the XT I kind of lost interest and gave up on the idea.

 

Boiled tithe is horrible.

 

Using the patented Mavis Beacon "Hunt&Peck" Technique, Champ

Isn't it?

 

Superbly done. Fails to mention the earlier shenanigans, but that's
clouding the issue a bit.