Posted By: Dr. Frugal in Credit on 11/30/2007 at 07:09:29
Apparently the root cause of the mortgage crisis is snooty bankers according to Germany's finance minister. In case you thought I was talking about the US economy at first, Germany is facing a similar credit-crunch right now too. Credit has just recently become a bigger issue in Europe--pre European Union days, the number of Europeans using credit was remarkably low. Their markets are booming now and they have credit to thank. Duh; you can't have it both ways.
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