
This could be more than a hiccup: the global credit crunch may force some of the biggest and most prestigious names in finance to write off 10% of some of their loans...and the word is a not insignficant number of other ones on their books are looking less than healthy. Another shock and then we could be in for a real bloodbath...
This is a good lesson in greed and its bad effects. I hope this changes the financial behavior for many Americans.
It well may, when they have no extra money to borrow...
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