Trapped in a vicious credit crunch - International Herald Tribune »

Posted By GHOSTWHOWALKS 1 year, 5 months ago in Business & Finance

Prop it 23 Drop it

Many policy makers and bankers said the credit mess was contained. Boy, were they wrong. More than a year after the crisis first flared, the U.S. financial industry, and with it the broader economy, seems to be caught in a vicious circle. As home prices sink, Americans are falling behind on their mortgages in growing numbers.