Global banks in turmoil as US sues over toxic mortgage loans

5th September 2011

Royal Bank of Scotland, HSBC and Barclays are among 17 global banks being sued by the US authorities over the sale of toxic loans to two US Federal housing finance organizations in the run up to the financial crisis.

2 thoughts on “Global banks in turmoil as US sues over toxic mortgage loans”

  1. Drf says:

    An excellent analysis, Peter of the problem of continuous debasement.  Full of pretty frightening potential, is it not?  We have of course had continual debasement since WWI in the UK, and it is not often pointed out that the effect is always cumulative.

    1. Peter Morgan says:

      Hi Drf

      Thank you for your comment. Yes you are right the economy has deteriorated since the first world war. In recent years debt has acted as the stimulus with potentially horrific consequences.

      Peter.

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