Thankfully, the vast majority of our banks haven't left themselves anywhere near as exposed to bad subprime debts as US banks have - Northern Rock being the exception. Also, thankfully, the world economy is far less dependent on the US as it used to be.
So what your saying is our banks haven't bought into the US subprime?
So Britain's third-largest bank Barclays hasn't ?2.6bn of exposure to the US mortgage market and hasn't got ?7.3bn of unsold leveraged loans then?
And it hasn't taken a ?1.3bn hit in the past four months from the credit crisis that is wreaking havoc in world financial markets?
Plus Britain's BIGGEST bank, HSBC haven't wrote off $3.4bn (?1.6bn) on its US subprime mortgage business and $925m more in its investment then?
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