The move comes on the back of strong indicators of the falling housing market and subprime sparked credit crunch pushing the US into recession. The Market Oracle article of 31st July 07 Hedge Fund Subprime Credit Crunch to Impact Interest Rates - highlighted the bullish implications of much lower interest rates in response to the credit crunch.

By Sarah Jones
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Comments

tHANE cURRY
19 Sep 07, 01:01

Banks

If the banks will not lend to their brother rock what do they know that the sheep do not? Why not be true and warn the sheep that if things go south the big banks where wise the serfs were fools.

You at least should bugle reality.

Little serfs will pay. Would you lend to the "rock"

Tell them to get out. Their brother banks who know far more than they already have. Your mommy is watching.

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