Credit crunch certainty, but at what cost?

  • Story by: Emma Ann Hughes
  • Magazine: MortgageAdviser
  • Published Wednesday , July 16, 2008

Who knows what tomorrow brings? The board of Alliance & Leicester repeatedly told journalists during a conference call on Monday afternoon that they had no idea what the future might hold.

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However, while constantly declaring they did not have a crystal ball, the board was certain their shareholders should fear that tomorrow could be even worse than today or yesterday.

Last week, I questioned whether we were now in the eye of the credit crunch storm and what could be awaiting us as we try to battle our way out the other side.

Clearly, Alliance & Leicester bosses felt worse was still to come.

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