Bijlsma, Michiel; Suyker, Wim - Centraal Planbureau (CPB), Government of the Netherlands - 2008
Over the course of the past few years, too much credit has been made available worldwide, due to financial innovation … many American homeowners who were not credit-worthy As a consequence, banks suffered heavy losses. Subsequently, banks lost … money on other products, which strongly undermined their capacity to extend credit. At the same time, mistrust increased …