Tag Archives: prime minister gordon brown

Rescuing Two European Lenders

From the New York Times: Just days after the United States government brokered the sale of the nation’s largest savings and loan, Washington Mutual, regulators in Britain and Belgium swooped to engineer emergency rescues of two leading banks with heavy … Continue reading

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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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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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