K
Kathy
Guest
This week some banks here in the UK announced massive profits. HSBC like so many UK banks lend massive amounts in the US and are probably starting to feel the repercussions of the start of what could be quite a serious recession in the US.
Whether this article is just scaremongering or not, I still think it is a stark reminder to how fragile certain economies can be and how it could possibly impact on the UK, or could it? Possibly the US housing market not completely in meltdown but they are clearly having problems. When they say the "sub prime" lenders I assume they are referring to the smaller banks and financial institutions.
Courtesy of The Telegraph
http://www.telegraph.co.uk/money/main.jhtm.../cnusecon24.xml
Whether this article is just scaremongering or not, I still think it is a stark reminder to how fragile certain economies can be and how it could possibly impact on the UK, or could it? Possibly the US housing market not completely in meltdown but they are clearly having problems. When they say the "sub prime" lenders I assume they are referring to the smaller banks and financial institutions.
Courtesy of The Telegraph
http://www.telegraph.co.uk/money/main.jhtm.../cnusecon24.xml