Not too slow, not too fast - dealing with the debt crisis
If the banks move too quickly on repossessions, they risk creating a hole in their loan books. If they move too slowly, households will remain mired in debt, writes Cliff Taylor.
The government faces a cruel dilemma in dealing with the mortgage crisis. Move too slowly and tens
of thousands of households will remain mired in debt, and uncertainty will continue to hang over the state of the bank loan books. But move too quickly and house repossessions will rise, the courts will get clogged up with bank actions against borrowers, and a new capital hole could appear in bank loan books.
But is there a...
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