You know the old saying..when America sneezes..the rest of the world catches a cold..especially relevant in the financial market..Sub-Prime lending in the housing market in the States,which was totally unsustainable..well the chickens have now came home to roost..and the domino effect has reverberated around the world's financial houses..they all wanted a piece of the "action"..with all their fatcat bonuses for new business..now the "for sale" signs are springing up all over the USA...and Mr Clawback has moved in.who do you think is gonna make up the shortfall...you don't expect the "banker boys" to hand back their bonus cheques now do ya?..no of course not!...let's put up the mortgage rate worldwide...The UK government had to nationalise one of the major lenders over here to save it going under..NORTHERN ROCK...they were big players in the American sub-prime market...just pure corporate greed!!