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Trapped in a vicious credit crunch - International Herald Tribune »

Posted by: GHOSTWHOWALKS 1 month, 4 weeks ago

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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.