Tag Archives: labor government

Britain’s Labor Government Panicking Over Its Mortgage Crisis

The situation is dire in the UK. Mortgage lending is at its lowest level in 30 years. The Labor government got thrashed in local elections. There’s no relief in sight. Real estate prices in Britain will decline about 10% this … Continue reading

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Mortgage Lending At Lowest Level In 30 Years In The United Kingdom

I knew things were bad, but that bad? Lenders have clamped down on lending, demanding high standards. The Labor government is ignored. Its political fortunes are tied to the economy which appears headed for recession. Here’s the report: Mortgage lending … Continue reading

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British Banks Reluctant To Loan

The Labor government is working to restore confidence among banks over lending to one another. The Bank of England governor testified before parliament. He wants a second five-year term as leader of the UK’s central bank. Mervyn King says he … Continue reading

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British Chancellor Meets With Leading Mortgage Lenders

The Times of London reports on Alistair Darling’s attempts to halt the credit crisis. Lenders and the Labor government have become increasingly hostile over the past few weeks. The prime minister has criticized lenders for not passing on interest rate … Continue reading

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