Economic déjà vu
1 big thing
00:00
Global Financial Crisis
In two thousand seven b n p paragraph froze access to certain funds that had taken big losses on mortgage products, because it couldn't afford to pay back investors. And what happened on monday was that basically every british mortgage lender stopped writing mortgages. They said, we are in this completely chaotic situation right now. We don't know what's happening to interest rates. We're just going to stop lending money for a week or so until we can get afield for where the new situation is. But if you need a mortgage in the u k. Right now, you actually can't get one. That's a big deal.
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