First Direct, a major UK bank and lending institution, has taken the shocking step of withdrawing mortgages for new customers.

This was a direct self presevation move in direct reaction to a huge flood of applications the bank had received as a result of its favourable rates.

I could go on about it for ages. It appears that First Direct will only do this temporarily, but it is like man, this really is a sign, a portent of evil recession round the corner. high level meetings are considering options previously unthinkable - and implementing them,,,,, we are all doomed.