₦airaland Forum

Ibime:
Mugu, how many seats does South South hold in the senate as compared to the North?. . . answer correctly and win a prize!

Im sure you get the point. . . if you dont, lemme spell it out for you. . . if the Northern Senators really want Jonathan to take over, there is nothing SS senators can do about it. . . by sheer weight of numbers, the North can pass (or deny) any resolution they want in the senate. . . they should stop treating the Nigerian people like illiterates. . .

You would not get a clear answer from him.

Is it possible for 18 people to dictate to 90 others ? If it is possible, how come they are not able to dictate when it comes resource control and other national issues ?

I have noticed that divide and rule is Ndu_Chuks' method of operation and it wont work. He always tries his best to instigate hatred amongst SS & SEners and creating non existent animosity . You gotta call a dog a bad name in order to hang it don't you ?

What have you people really gained from your regional rulers that you give them such unflinching support regardless of whether Nigeria is moving forward or backwards ?

Ndu_Chuks, "yes" or "no", should Jonathan be the president in acting capacity already ?

edoyad:
Almajiri face, if you like you can register your father's 4th wife's maiden name as your your new username, i will decode your ignorance through your illiteracy.
What is southern zaria in the first place ? Did your imam give you that term while he was farting in your "Face" whilst you were praying to your magic black box in mecca ?
If you have not been to kaduna to know that across the bridge means then i urge you to find any christian from any part of Nigeria who resides in kaduna to educate you.

Stop showing your ignorance Edoyad. I went to FGC Kaduna and I was there for six years, hence my reference to Malali. Would you prefer that I referred to you as Chongai, a derogatory Hausa name for you or a Southern Zarian, a term used to describe people south of Kaduna ?

I am a Christian from Umuahia Ibeku and I do not need to change my user name just to battle with you. I can feel your rage and frustration with northern muslims (Hausa and non Hausa) and I know that you are in a very militant mood so I will let you have your day.

OMO IBO:
FACE, in your attempts to dispute my comments and then make some sense, you only succeeded in showing that you really did not read my comments.

I never at any time said Enfield encouraged Graffiti. Rather what I said is this:
I am very certain about the above because I have visited the site. I have also had the opportunity of speaking to a Ponders End official and a Police Sergeant in charge of the Enfield Community Development.
I have intentionally left the names out for anonymity. If you insist, i cant post it including their contacts.

If you know Enfield very well, you'd notice that there's an open field close to Halfords.
This is where the council and the Police are trying to develop.

Again, if you read my comments correctly, you'd notice you directly or indirectly agreed with me with regards to Graffiti.
Let me re-iterate, there is/are no graffiti site(S) in Enfield but i'm sure i've seen one somewhere in London. . . . .although
3-4 yrs ago - the police and council are also aware of this cos it is in the open.

Lastly, Graffiti and other forms of art may not be lawful but some councils have realised that if embrassed, could help reduce crime.

CAPICE!

Sorry I misunderstood ur original view on graffiti. I agree with most of what you said here.

Ofcourse, I know Enfield like the back of my hand and I do get involved with council community works.

The only open space close to Halfords in Enfield business Park is Enfield Playing Fields with about 22 football pitches where I go to tap some footy every other sunday. Behind Halford is British Car Auctions and the adjacent land belongs to them.

I am unaware of any joyriding development around the area, however there is a new ongoing go-cart development in Lea Valley in Enfield. Maybe you should ask your friend again.

edoyad:
And mr ayinba anybody could decode you're a parasitic almajiri survivalist, aren't you ? Please tell us which one you are, citizen Y or real4life ? You ignorance oozes through your posts so easily that i can decipher any of you no matter how many usernames you try to log on with.

Edoyad, you have tried several times to insinuate that poor level of western education in the north is a Hausa thing and that other Muslims in the north are not violent like their Hausa counterparts.

Truth be told, you have a near even split of Christian and Muslim Southern Zarians. The Northern Muslims are generally intolerant regardless of whether they are Southern Zarians or mutanen Hausa bakwai. Poor level of education in the north is also not limited to the Hausa alone.

I can tell you now that if Nigeria were to split as a result of religious violence or the current political em passe, the south (especially S.E) would not want anything to do with Kaduna state or any other northern state because we generally do not share the same values, goals and objectives. The average southerner sees the northerners as one and the same people, primarily because they share the same values regardless of the morality of issues at stake.

Would your Nok people support issues like :

1.Resource control
2.Merit as opposed to quota system
3.Educational equal opportunity as opposed to favouring some states classified as educationally disadvantage
4.Transition of power to Jonathan in the event of Yaradua's demise
5.Equal opportunity in all spheres of life in Nigeria ?

If you could tell me how my classmates when I was in secondary school in Malali  were disadvantaged to myself or to their counterparts in community sec schools in the east when it was time to take Jamb, then I might be able to see it from your own angle.

I would advise you to sheath thy militant sword against the Hausa in your state, because they would remain your country men if Nigeria should split (unless you split from them) and it would be in your interest to be good fellow country men.

Ndu_Chuks and co, it would do you well to try and educate your brethren on the need for religious tolerance and peaceful co-existence.

Too right.
However, there must've been a reason for the police and council to co-sign to these forms of art.

I'm sure the pro's and con's were somehow weighed.
In Enfield alone drugs, alcohol and anti-social behaviours were on a high until the Police and council recognized they could be on to something positive if Drifting was encouraged.

I do not have the facts and figures but drifting, graffiti and other related forms of art are being recognised.

@ Omo Ibo

You don't have a clue about Enfield. I live in Enfield and there is a special anti graffiti team in the council. There is no joy-riding facility being developed by Enfield , the ASBO level is not higher than the national average and graffiti offenders like the notorious "TOX" are being prosecuted throughout UK.

The police and road safety in Abuja looked the other way while senseless youngsters embarked on murderous adventures on public roads.

What if the UK encouraged such yobbish behaviour, would that make it right and worthy of emulation?

The information below is from Enfield Council's website.


Tackling graffiti
Graffiti is an offence by law, under the Criminal Damage Act 1971 and Anti Social Behaviour Act 2003.

Graffiti removal causes unsightly damage to the neighbourhood and removing it is an expensive and unnecessary cost. As such, we make every effort to prosecute offenders and prevent the crime from recurring.

Shop owners who sell aerosol spray cans to underage children will be prosecuted.
Those who report graffiti vandals can be rewarded up to £1,000, depending on whether the vandal is successfully prosecuted.
We share intelligence and evidence with agencies such as the police and British Transport Police.

http://www.enfield.gov.uk/info/584/vandalism-graffiti-reporting_and_removal/62/graffiti/2

Biafran war was forced upon the easterners when more than 30,000 men, women and children were killed and the govt looked the other way.

There were northerners in Biafra until the end of the war and those wishing to leave before the declaration of Biafra were given military escort by Ojukwu to ensure their safe transit to the north. Gowon could have done the same but did not do so, and the massacre of easterners continued.

Put in the same situation, Ndi Igbo would fight again. We lost the war but not in shame. We earned our respect and our bouncebackability has continued to astound our detractors.

Why is it a nice wish to have a Republic of Southern Nigeria but a taboo to wish for Biafra. Dem tie us and una with rope ?

"Me too" syndrome is a bad. Biafra is not workable, Biafra no get land, Biafra this, Biafra that , haba. Must you take another mans medicine for him ? You hold us to a different standard all the time and you think it is fair.

Find 2008 report below. 2009 report should be on its way.

http://www.nigeriapolice.org/NPF-2008_Annual-Report-Final1.pdf

I have gone through the thread and it looks like most Southerners would like to secede from Nigeria.

Why then is it that most people westwards of Agbor come down on their eastern neighbours like a ton of bricks any time the later dare hint that they would love to be an independent nation ? Is it only a good idea when the whole south jointly secede or are they inseparable appandages of each other ?

Life is not all about "me too". If it is right for the southerners to break from the federation en bloc, then there is nothing wrong with any individual group wishing to go it alone.

In my opinion, we have greater potential as we are at the moment, but of what use are those potentials when there are forces ( constitution, nepotism, corruption, quota system, etc etc ) which continue to kick those potentials into the ground.

A simple transition of power to the VP in the event of the president's demise as stated in the constitution has degenerated into ethnic/regional political chicanery.

There is no way we can move forward like that and I think that the best solution at this point is to re-negotiate the terms of our co-existence and agree to part ways if necessary.

Those who make peaceful resolution of conflicts impossible shall find physical revolution/war inevitable. Everything has its  elastic limit and the continued existence of Nigeria as a nation has almost reached that limit and only time would tell if it would snap or return to shape.

For those who expect some form of royalty from other regions, you'd better have the military might to enforce it.

^ Why don't you people go to the NTA website to get "substantiated" material ? Rubbish, Naira land is bigger and more trust worthy than any of you will ever hope to become.

Edoyad, go through my posts and you will notice that I do not go personal on issues, therefore I will not indulge you and decend to your level. Regarding the highlighted, I can't help you if you have low self esteem and have continually underachieved.

@ Topic,

Nairaland is a public forum which is littered with intelligent and manic views and cannot be called a news media upon which news reports are based without specifying that it is a public opinion forum and mentioning the person, whose opinion was quoted.

My grouse was with the reporter and not Nairaland, which I consider to be dynamic and quite informative.

Just as a scientist is not allowed to make an inference without consideration of facts, a journalist is not allowed to sit on his butt  and twist facts in order to produce news articles.

I stand with ElRazur on this occasion even though the content of the report was not far from the truth. That was exactly how Nigeria got a very bad name in the first place. Lazy people sit on their butt and dish out junk journalism and the reading-public get fed with misinformation most of the times. He might easily have quoted an expert known an Mr Bec Omrich.  

I have had to write to the SUN in Uk on two occasions because of some useless articles concerning Nigeria, which were written by some useless journalists who did not have a clue about what they were writing about; one of which was about " deadly malaria virus from  Nigerian immigrants". Malaria virus indeed !

I am sure Seun would not be impressed as well because he is aware that most of what people say here are hearsay and unsubstantiated .

Don't kid your self Dede 1, China, Russia and USA are all capable mutual destruction and they all know it.

China demonstrated its precision military technology when it took out a satelite from space.

During Russia and Gerogia war, USA did a lot of gra gra but knew not to cross the line. Not even when Russia seized the Humvees they used for military exercise in Georgia the month before the war.

They sent a US warship to take aid to Georgia, bragged that they were going to dock in the Black Sea port in Georgia which was under Russian control at the time, but did not do so as they were keen to avoid a direct confrontation with Russia.

They all know themselves and would never embark on direct warfare with each other, they can only fight proxi wars.

, and OAM4J wins the "Most Patient Person" award of the century. Some people just argue for the heck of it, getting their points twisted and conflicting. Hmmm ROFLMAO.

@ Kobojunkie, I'm shocked I agreed with your points. Very logical indeed. I still can't stand your ROFLAMAOing though .

Yes Pres-elect, that picture was indeed taken from Modotel in Owerri.

Owerri is a beautiful city and is one of the few cities in Nigeria with very straight roads and well defined layouts.

Most parts of Owerri were built from the 80's onwards with very good town planning. Kudos to De Sam Mbakwe for laying a very good foundation including an underground drainage system that was ahead of its time in Nigeria.

Your treatise is highly inaccurate and hypothetically flawed. I do not like it when people try to assemble the world using their personal moral standard and prejudices. I am a strict monogamist but i understand my polygamous friends. Some guys testosterone levels is at variance with their disciplinary levels, and such people have to be catered for with minimum damage to the society.

Before some people demonize polygamist, why do you not try to understand the reason some men are naturally not satisfied with one woman. Some men cannot wait the long period of sexual starvation that accompanies the later part of pregnancy and the healing period of child birth which can sometimes span 6 months. Some guys keep mistresses for those "rainy" days, while some patronize red light districts under the cover of the night. Other still take to marrying 2 or 3 wives. We all have different make up and it is dishonest holding other to our personal expectations.

In the example you gave above, it was wrong for you to assume that a man with 4 wives is like likely to have the same number of mistresses as a man with one wife. A polygamist is most likely to have less mistresses than a monogamous one, because, the polygamous man would have his high libido satisfied better than a monogamous man with the same level of libido. Also the polygamous man would be boggle down with much more responsibility as he has to cater to his four wives and children and hence be much less likely to add more responsibility by keeping mistresses.

Some people with phobia for sex (sexiphobia ) better get use to the fact, that you cannot decree everybody to live by your sexual standard. It had never worked in the past and it will never work in the future.

The irony is that the societies with the least sexual restrictions are the ones with the least sexually related vices. Scandinavian countries where prostitution is legal has the lowest AID figures and lowest teenage pregnancy figures in the world.

I decided not to use likelihood of promiscuity as a foundation for my analysis, because I knew that people would have different views on that and none of the views would be acceptable unless there was a reliable data to go by. However, in my opinion again, the polygamous man is the one with a track record of multiple sex partners and is most likely to sleep with multiple sex partners.

Having buttressed my position on the promiscuity tendency, I would again stress that I am not using that as a base for my argument.

I used multiplier effect in the simplest of examples I could think of and HIV spread via means other than sexual promiscuity and you chose not to address that, but latched onto unproven assumption i.e. your personal opinion, which I don’t agree with.

Let me compound the multiplier effect even more for you.

8 HIV offspring from Mr Poly attend YX School and the 2 HIV offspring from Mr Mono attend XFC School. There is an outbreak of CSM and the kids are to be vaccinated. The problem is that the vaccination nurse is a quack and decides to use the same needle for each class to be vaccinated (Please don’t argue about this because I witnessed and stopped this practice while serving in Okura in Kogi)

Mr Poly’s kids are in 8 different classes of 30 children, while Mr Mono’s Kids are in 2 different classes of 30 children.

Mr Poly’s kids now have the potential of infecting 232 other kids, while Mr Mono’s kids have the potential of infecting 58 other kids.

This chain goes on an on and from the point of initial infection at the dentist's, Mr Poly’s household would spread HIV a lot faster than Mr Mono’s household. This is simply known as domino effect.

Of course, I know that I have not considered several factors like susceptibility and enlightenment but I am basing my argument on an equal premise since the other factors are so many and could go either way.

I cannot condemn or commend polygamy anymore than I could monogamy as both practices are individual choices, but I could use reasonable permutations to support my position and I would like to see opposing permutation from you based on an equal premise.

Every scientific research is based on "all things being equal" until proven otherwise. You could use simple stuff like direct proportions to buttress your points. No sentiments or long stories, a simple E=MCC would do.

The problem here is that some people are refusing to consider multiplier effects and think that sex is the only means of infection.

Eziachi has pointed out several times that there are several ways of being infected with HIV including, sex, use of contaminated equipment, maternal link, etc.

Now in my opinion, a polygamous man is the person with a proven track record of lack of self control when it comes to women and sex but I may be wrong, so I wont use likelihood of promiscuity in my brief analysis.

Back to the multiplier effect I referred to;

If a monogamous man had 10 extramarital sex partners, there is a high chance that at least 11 adults plus any offspring that came post-infection would be infected within his area of operation. i.e 11 people + x children.

Likewise if a polygamous man with 4 wives had 10 extramarital sex partners, at least 14 adults + 4x children (post-infection) would be infected within his area of sexual operation.

Now the above strictly deals with infection through sexual promiscuity.

On the other hand, let us presume that Mr Mono and Mr Poly were very faithful to their partners. Mr Mono and Mr Poly's 4th wife (yeah the brand new one) visited Mr Anyhow the dentist for tooth extraction and both got infected with HIV.

Mr Mono went home and infected Mrs Mono and Little Jack and Jill then came along armed with HIV from birth. Direct infection = 1, Multiplier effect = 2, Total infection = 4

Mrs Poly went home and infected Mr Poly, who cheerfully gave some to Mrs A, Mrs B and Mrs C Poly. The Poly wives jointly brought 8 little ones to the world thereafter. Direct infection = 1, Multiplier effect = 11,
Total infection = 13

Clearly, AIDs would most likely spread fastest within a polygamous setting than a monogamous one.

2) Level of education and access to it
Lagos State with a population of 16 million has just  4 Universities.= UNILAG, LASU, Caleb University & Pan African University.
Delta State with a population of 4 million has 4 universities = DELSU, Western Delta Univ, Novena Univ & Fed. Univ. of Petro. Tech.

Delta & Edo state students have for the past two decades, colonized the top spot in any of the various national exams including JAMB, NCE, et al.
Delta state produces far more graduates than Lagos state depite the huge population difference.
The decrepit nature of government schools in Lagos state cannot in anyway, by any standard  be  compared with those in Delta state.

Electricity and water
Please don't even start with this one. Delta state has zero problems with water. Zero. The water levels are so high and clean in Delta state by nature's providence that there is hardly a need for the Government to ever do anything about Water supply. Clean water is abundant beyond measure.
On electricity, everybody knows Lagos state has the biggest problem in the country.

@ PapaBrown

Anambra state with less than 600 recorded cases is indeed one of the states with the lowest crime rates according to police report of 2008. Check page 138 of http://www.nigeriapolice.org/NPF-2008_Annual-Report-Final1.pdf. Lagos tops the list with more than 12,000 cases and Delta criminals with nearly 5000 cases no carry last either.

Sorry, but Jamb statistics show that the top three state have been Imo, Anambra and Delta for a while.

However, there are very good reasons why lagos may never make the top spot. Lagos is more or less an immigrant society and Jamb statistics are based on states of origin of applicants not states of residence. Of course I know that some people claim states other than their own in order to get around the quota nonsense but the number is not significant.

Another factor could be that lagos population might be mostly post university education and  "I too old to go school" age groups. A statistics of the age spread would be helpful here.

Remember, this is not about achievements of indigenes but the development of areas by their governors regardless of the origin of the inhabitants.

How do you mean  clean water is abundant by natures providence ? Did nature provide the water all the way to their homes via pipes or do they have to go and fetch the water  from the supposedly oil polluted waters?

I know what the problem is; the range of world view !

Fashola is doing great according to those in Lagos but they have not been to the other 35 states to measure their satisfaction of how their respective governors are meeting their needs.

What the Lagosians are doing in effect is to compare Fashola with the previous governors of Lagos state, just like the "world series" where only Americans compete and become world champions.

There are so many indices used for measuring development and until all those are compared nationwide, you can not stay in your state and award your governor the best governor of th nation regardless of how excellent you think he is.

Nobody is knocking Fashola down. after all i posted over 80% of all his achievements on nairaland and not BP. What am saying is that what he is doing is not extraordinary and when measured with some other states on a balanced financial scale, he may not be outperforming them. I don't do hero worship; my own is to praise you if you good and point out your flaws. That is the only way we can move ahead.

OK

But BP has shown Fashola's achievements. Furthermore, he has not tried to knock Chime's achievements; so why are you guys trying your best to knock Fashola down ?

Areas with large population like Lagos are a lot more difficult to manage than other places in Nigeria. Restoring a semblance of sanity in Lagos deserves an award on its own.

Guys chill, BP is convinced that his man is the best and you feel that your man is better, so why don't you leave at that since both parties no go ever gree.

Eze Wogu mounted the throne of his fathers in 1976. Since then, he has ruled as the paramount traditional ruler of Umuahia, including Ibeku, Umuokpara, Olokoro, Ubakala and other communities in the Abia State capital.

Absolute nonsense. He is probably the Eze of Olokoro and Old Umuahia since they are all children of Uvoma.

Ubakala is the adjacent town and they have always had their own traditional ruler. (Uba)

Now the one that pains me the most is the claim that he is a paramount ruler of areas including Umuokpara and Ibeku. Total nonsense. Ibeku and Umuokpara are related and Umuokpara have their own traditional ruler.  

Ibeku had seven boys, patriarchs of the 7 clans (Egwu Asaa). Although there are several autonomous communities in Ibeku, the paramount traditional ruler of Ibeku is 'Ogurube Ibeku' and has always been. All other Ezes in Ibeku answer to him. A bia na Umuahia, Ibeku na ebu uzo achi oke before any other community including Uvoma.

I am a fiercely proud onye Afara-Ibeku and I wont take kindly to any misinformation, especially from people that should know better.

Phew ! That off my chest, you can now continue with your topic. Good luck.

President Umaru Musa Yar'Adua's suffered a seizure midway into the ECOWAS Heads of State meeting at the Transcorp Hilton Hotel Abuja over the weekend and was rushed to the Hotels toilet for treatment.

What a place to rush someone to for treatment.

"nna" = otu a (like this, such that) "nna" can also mean "take" in some dialects but I don't think it fits in this instance.

a karala nne (e hie la nne, e ri go nne) is very big. or (e hiri nne, e riri nne = Jointly, collectively, en masse)

If I heard you speak it, I would be able to tell you what you said tho as the key is in the tone.

Yeah Chinenye, "nnu" is commonly used in place of "unu" around Owerri axis. I agree with your translation tho, unless Abagworo bursts our bubble.

Literal : If a huge effort is required to do a job, you should stand behind me.

Meaning: 1. Unity is strength 2.Together we shall achieve great feats.

Wild guess tho. I have a feeling you should have written it thus : Ihe ha nna a karala nne mee,nnu a kwuru m odu.

Ibime:
Truth be told, the banking system poses little risk to the economy as a whole.

In quantitative terms, since the banks are suffering a credit freeze and inflation is still healthy, that means supply of money in Naija is still fairly liquid irrespective of the health of the banks. Thats because lenders (banks) do not permeate the real economy; and because nuccas still keep cash money under their pillow. Hence there is no reason to bail any bank out.

I think the question of bailout is more one of preventing an unquantifiable loss of trust in the Nigerian banking system from foreign and local investors, especially considering that the banking system is still in its infancy.


@ Jarus/4Play,

Do you support bailout of any of these banks?

Why do you like in getting into what you know next to nothing about or am I misunderstanding your comments ?

My friend, take away the banking system and the whole economy will grind to a halt, I mean sudden halt with fully applied brakes. Actually it will go into full reverse.

The other time you also thought that printing money to inject into banks would lead to a trade deficit. (Ok maybe with Germany since we print the money in Germany)

You also confused affordability with availability and refused to accept that many factors like continuous employment affect continuous affordability (leading to loan defaults) and implied that demand tracked house prices rather than house prices tracking demand and available supply.

Dude, go and really read that your "demand - Supply curve" page again. O.K maybe you should read the whole chapter in order to get better information. While you are at it, try Trade deficits and surpluses.

Oh, lest I forget, also check how money supply expansion is mainly used as a tool of counter recession/depression.

By the way, the bulk US bailout money came from govt borrowings, bonds and IOUs.

Ibime:
To be honest, after revealing your sciolism and proving yourself to know nothing of what you speak of, I can only indulge your argument further out of sheer magnanimity. As a result of me pointing out your ineptitude in basic principles of economics, you have chosen to use an abrasive method of communication to get your point across.

Your post just sounds like a covert retreat on your part.

The bolded is what I've been saying all along.

No need to argue with me, cos you came back full circle to agree with me.

In your own words:

"Availability of easy loans led to high demand of housing properties which led to astronomical rise in property prices."

If you agree that the demand was high, then the only question left to ask to end this debate is whether the high demand was artificial or not.

You evidently believe it wasnt artificial.  I say it is. The high level of default proves it is.

Your only recourse is to argue that it isnt artificial because credit ratings allow it. Again, a systemic flaw which would be nuanced by Islamic banking.

With reference to our debate, the only question to ask would be: Would these "easy loans" be available under Islamic banking?

Second argument is the securitisation of mortgages argument which you fall flat on and have refused to address. Again, another practice discouraged by Islamic banking.

Your ignorance and ineptitude on the subject in which you seek to debate on will not let you realise that easy loans were not only given by subprime lenders but by main stream lenders as well. Easy means lowered criteria on this occasion like LTV and income to loan ration.

Demand was always there and approval rate was high. In effect properties were in shorter supply than demand from buyers until the downturn.

You speak as a novice and I talk as someone on the ground and with first hand experience. I can pick a novice from a mile when I see one.

Do you know what ? We can only go round in cycles and I won't be responding to further posts from you on this regard. I have been in the thick of this since 2002 and have witnessed and have been involved with the rises and falls and I am happy with my opinion,just as I am sure that you are happy with yours.

Regards.

Ibime:
No need to read through your long post.

The content quoted already disqualifies your argument.

Inability to pay IS lack of demand.

Demand and Need are not interchangeable terms as you argue.

Hence the simple supply-demand curve which you learn in Principles of Economics. Price-elasticity of demand states that when prices drop, demand increases for a normal good. Since Housing is a normal good, your argument disqualifies itself.

If demand increases when prices drop, that means more people can now afford it. If the price is too high (as house prices are/were), then demand drops. Since unscrupulous lenders allowed subprime clients to buy something they could not truly afford, artificial demand was created.

We would all like to own private jets. That doesnt mean demand for private jets is 100% of the Worlds population. Only those that can afford it are qualified as contributing to "demand".

Hence, my statement stands that "Under Islamic banking, the artificial demand which led to the credit crunch would have been averted".

No point arguing with you. Go and learn what subprime lending is before we continue this arguement. If you said that over exposure would be averted/limited under Islamic banking, maybe you would have a point.

Text book economist, prices just dont rise and fall in order to fit into your lala land curve.

Availability of easy loans led to high demand of housing properties which led to astronomical rise in property prices.

The fall in property prices was as a result of the scarcity of loans to potential buyers , especially first time buyers who are the main engine of the property market. This led to few people chasing after available properties.

Even those who could afford loans were unable to obtain loans due to to no funds for loans.

Even though now is the cheapest time to obtain loans, lenders are still not lending money to people. Now the trend is changing as there are now fewer houses in the markets with slightly revived interest from buyers and approval of more morgages. Trust me I should know about this.