The Mortgage Bust Goes Global

The Mortgage Bust Goes Global

While the housing slump has come to dominate American presidential debates and has sent Wall Street into a tailspin, the consequences of millions of foreclosures across the United States are also being felt far overseas. Nowhere is that more true than in Switzerland, the serene land of snowy peaks, ice-cold lakes and staid banks long considered to be among the most cautious in the world.

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