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Last Updated: Thursday, 6 September 2007, 09:18 GMT 10:18 UK
Credit Crunch
First broadcast September 2007

A hand holding money and a stock market trader

In the last month, the world's financial markets have been in turmoil - as cheap home loans to millions of American homebuyers suddenly dried up, and with them, cheap money for huge international investors.

House prices in the United States have tumbled, prompting fears that the trouble will spread across the whole global financial system.

In the first programme of this BBC World Service series, our business correspondent Steve Evans reports from New York and asks the question, are the banks themselves running out of money?

Listen to Credit Crunch

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