uk interest rates slashed to 3%, page-8

I disagree about blaming greenspan dropping rates..it was not just about the housing...big business community out there that relies on loans for business....payrolls etc, growing the business..while waiting for debtors to pay up....throughout greespans years there were a number of crisis worldwide that threatened the US economy
labor had sent our rates up to 18%...took years to get them back to 7%....anyone really believe 7 % is cheap,
or wondering why our economy stalled with the highest rates on records all those years

where it went wrong was with the cowboy attitude....like abc here in oz for example...and plenty of others all going under now....the banks themselves played a huge role....and dont ask the banks about the derivatives held off the blance sheet to hide it from the authorities

and the blacks role in the sub prime was devised by ACORN...that group and a concerted effort by others went to court claiming racism...if the banks did not lend to them...regardless if they had the means to repay the loans...or not....and obama himself was the lawyer instigating that action...do a goodle and see what you find about tht group.....acorn is currently looking to recoup 200 billion from the recent bailout...

I do not like to bring japan into the picture...but regardless their economy and housing has been down or sideways for years...their interest rate has been around zero or very low the whole time....an ageing population...and obviously other problems...japans situation has been out of whack with the rest of the world...central authority and management problems there...

I see it more as people should take responsibility for their own actions...not laying blame on others....tv shows recently showing girls owing 70,000 credit card debt with no intention of ever repaying it....some were blaming the banks for giving easy access to the cards...well hello all the applications I have seen require details of existing debt...and if you already have a card they are unlikely to give you another one...
fraud by many players has the biggest role here..