There are three groups responsible for the Sub-prime scandal on the international financial market, and likely to cause a recession in the US and elsewhere in the world.
•The greedy Estate Agents in the US who handed out loans like confetti and haven’t been forced to return their commissions on the scam—they knew what would happen
•The banks who made the easy loans available have not been penalised because they sold the worthless loans onto the market—that must STOP
•The credit rating agencies who rated the worthless mortgage papers AAA have not been penalised—and that needs regulating
Estate Agent MadnessSo—how will they learn not to do it again?. Deluded self seeking Governments are not allowing the banks to go bankrupt by propping them up–attempting to minimise the effect on the markets, hoping to stem the downturn.
