... industry is enmeshed with the rest of the economy, and, pari passu, with other industries and the diverse communities of citizens which make up the modern notion of a state. Finance – as the credit crunch has painfully brought home to millions of mortgage holders, savers and the energy poor...

..., but brings together research that demonstrates that the roots of the crisis in the mortgage market are in many ways different from what is suggested by professionals and journalists alike. © Emerald Group Publishing Limited 2009 Recession Credit Mortgage default Loans Regulation United States...

... uncertainty worsens the situation – the resulting austerity‐mentality causes a contraction of spending and credit, and an increased “risk premium” attached to business activity scares away investment and bank lending. Interest rates rise, the demand for quasi‐money and credit – i.e. the desire to hold and use...