Experts said it would be increasingly difficult for people to borrow their way out of trouble.

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"Do not attempt to borrow your way out of trouble from us or anybody else, " he said.

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On the other, it faces having to cut dividends and borrow more to buy its way out of trouble.

ECONOMIST: Vivendi Universal

They are desperate to carry on lending to anyone who might want to borrow because they need to earn money to pay off their past bad lending, even though they are storing up trouble for the future.

ECONOMIST: Time to grow up