Published: September 01, 2018
Higher rates, tighter lending and falling house prices are a flashing red signal of increased stress in the $1.6tn market
In 2007, Chuck Prince, the soon to be former boss of the huge American bank Citigroup, famously dismissed concerns about a looming credit crunch and committed himself to continued deal-making by bullishly declaring: “As long as the music is playing, you’ve got to get up and dance.”
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