Margin lending should never have been allowed as Low doc/Sub-prime should never have been allowed.Credit is just too damned easy to get,or was.And now these high risk takers are going into default and wrecking more promising investments as they cant get the cash backing.Probably the most likely reason Aim had to go cash in hand to investors,but not the only one either.
I read today that the eventual total write downs may come to 800 Billion.
Hang on for dear life I suppose Viv and hope the gunwhales of the Aim ship dont go under in this rather heavy swell.
d.
readies supply pacts, page-18
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