The credit crunch is likely to last well into 2010, the head of the UK's largest mortgage provider has warned.
HBOS chief Andy Hornby told the BBC it would take 18 months before US house prices started to rise again. That was needed "to give the confidence back into the system for banks to start lending again," he said.
His comments suggested there was little that the UK Government could do to stimulate the markets, the BBC's business editor Robert Peston said.
more ...
------------------------
Check out the rest of this blog here.
