What the Bank of England have to say

Following the 37 billion spent on bailing out The Royal Bank of Scotland, HBOS and Lloyds TSB, The Bank of England is looking at tightening all lending to avoid a repeat of this situation in the future.

Banks expanded to much during the ‘good times’ and did not have enough funding to cope with the fall out.  Now 1.2 billion people could be looking at negative equity as house prices drop 50% over the forthcoming months.

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