Sub-prime crisis - what next in banking? Credit crunch / sub-prime crisis and mortgages, interest rates, share prices, house prices. Comment by keynote conference speaker on Future of Banking and Financial Services - Dr Patrick Dixon

http://www.globalchange.com Sub-prime real estate crisis and credit crunch explained in US and global impact on banking, mortgages, home loands and financial services. Why the banking system remains at risk from complex processes that most people don't understand. Regulators, changes in banking regulation, systemic risk, corporate governance, and how banking / financial services products will change as result. How banks will manage risk in future. Comment by conference speaker Dr Patrick Dixon - after keynote speech on global trends in Belgium

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[pjvdixon]

Sub-prime crisis has since become a national debt crisis, which in turn could turn into a second global banking crisis - but this time most governments will not have enough money to bail out their banks, and will be unable to raise more without paying impossibly high interest rates because investors will fear not getting their money back. Therefore expect some nations to print cash, deflating their currency and their debts, providing "free" money to prop up banks.

[MagikPoo]

My Dear Dr. Dixson you are a goldmine pardon the pun. I was looking for a REAL way to explain to my family what this whole credit fiasco was all about and you sumed it all up in a simple answer no one knows exactly what they are doing. Thanks doc im cured.

[pjvdixon]

Thanks very much. Patrick

[geejun30148]

Great stuff Patrick, I wish I saw this last year, it would have reinforced my vague knowledge of what was happening .

Anyway guru, what is your view of the next 6 months ahead.

[pjvdixon]

Thanks - look at the latest videos - turqouise button top right. Patrick

[pjvdixon]

I am not so sure actually, having met a few. Banking products have become so complex that they are very hard to keep track of and CEOs of entire banking groups have vast numbers of issues to manage. This is why it is now such a risk for a non-executive director to sit on a bank board. They are liable for things missed - but hard to keep watch on every front.

[ManufactureBelief]

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[Rob187ok]

Nothing is safe. They want to bring the system down. They will keep trying tio chip away at it in any way they can until it fails and the problems get real bad

[ne1l007]

I think the price of gold has reached it's peak. The next general trend will have a negative gradient.

[zillypaul]

@ne1l007

lool.. the price of gold is going up because paper money is bull shit, and more and more people are coming to realize it. You think gold is high now? Keep watching.

[AdmiralBoom76]

You don't know anything, just like your audience.

"I'm not an economist or a banker" LOL! Like if you were it would make any difference. "when I started to lecture hedge funds". If only you knew how stupid you sound!

By the way, Dixon, you're talking about fraud in its simplest form!

[TheQuesoviejo]

Once upon a time buying a home in the USA

required a 20% down pmt. Various government legislators & special interest groups complained that lenders discriminated against minoritys & low income families. Lenders came under increasing pressure,

& new kinds financial products were devised.

For a while it worked and everybody made money. As long as prices were rising you couldn't loose. It's the nature of all bubbles to burst eventually.

to lend to this demographic

[thouston7]

If there was regulation in place to keep people from getting massive housing loans without verifying their income, this would have never happened.

[rupertmja1]

No - regulation is not the answer. There is enough regulation - trouble is, people trusted it and therefore, went in head first without thinking. There needs to be less regulation, which would force the punter to do a bit of research and come to better educated decisions.

[acrowBruto]

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