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					  <title><![CDATA[Credit Crunch Hits UK Housing]]></title>
					  <link>http://www.rich1percent.com/articles/91/1/Credit-Crunch-Hits-UK-Housing/Page1.html</link>
					  <description><![CDATA[The credit crunch is in full swing in the USA and laying in its wake are failed financial institutions, record losses by those left standing, ghost towns awash with abandoned homes, and drastic measure implemented by the Federal Reserve to decrease the costs of borrowing and ease the crisis. &nbsp;While there is no doubt that the United States is feeling the effects of the credit crunch, Britain has been living in denial that it will eventually fall victim to the oversupply of loans and mortgages to people with bad credit histories and unreliable incomes.]]></description>
					  <author>no@spam.com (Michael Sterios )</author>
					  <pubDate>Tue, 20 May 2008 07:28:09 EDT</pubDate>
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