Ray Wrote:[quote=mcamp999]
The reason SA took much longer to go into recession was because of some farsighted financial services regulation that meant SA was not as affected as other countries.
Awright , you are referring to the exchange control , yes ? ( which prohibited S.A. banks to get involved in toxic mortgages ? )
Correct, and why should we not give them some credit for that (credit being a bad word really
)It was good legislation and it had a massively positive efect, whether by luck or judgement who knows, but it was passed and worked very favourably