| The US sub-prime mortgage crisis of August 2007 could easily have been cured if regulators, governments and central banks had taken decisive action a year ago, when it was already obvious that this was a problem that private financial markets could not resolve. But instead of taking action- guaranteeing and recapitalising banks, buying-up distressed mortgages and slashing interest rates to zero - governments all over the world |
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At www.timesonline.co.uk
At www.timesonline.co.uk
