Bernanke plays down effect of US sub-prime mortgage crisis . Paul was Right

news.independent.co.uk — The sub-prime market, which specialises in lending to borrowers with poor credit records, collapsed earlier this year in the wake of falling house prices and spiralling mortgage arrears. New Century, America's second biggest player, went bust, and the crisis was blamed as one of the main factors behind the turmoil in financial markets that took pla