I believe
it was banks and companies taking loans that were not paid back.

Banks lend to banks overnight to fill up shortfalls in returns. One day, one will be up, another will be down and vice versa.

Most of the loans that caused damage were not personal loans or credit cards etc... but big fucking massive intercompany loans.

If every single person with a personal loan refused to pay it back, the banks would barely even feel it.
Spin, spin and more spin has had us thinking that 'the man in the street' caused all this crap. It's simply not true.
(dchurch bah, Thu 30 Dec 2010, 10:19, Reply)