Five years after the credit crunch, industry is still squeezed


Comment by Joy Dunbar, Editor of Absolute UCITS

Earlier this month an unhappy anniversary was celebrated.

Five years ago, on 9 August 2007, the credit crunch began. That date began a chain of events. It started off as a lack of trust between banks not wanting to lend to each other because they did not know which of them were dangerously exposed to subprime investments in the US.

Many other events have happened since then and are too numerous to mention in this blog. But one of the most significant events occurred more than a year later – the collapse