Well, not exactly, but I sure have been conditioned to think that way after hearing news like this:
Insurance stocks plunged Wednesday after MetLife annouced it would be raising capital, cutting jobs and withdrew its 2008 earnings guidance due to the dramatic downturn in the world financial markets.Metlife had reportedly been in merger negotiations with The Hartford, without success. What I do know is my local Metlife ag loan rep has stopped taking loan applications.
In an effort to provide some semblance of certainty to nervous investors, MetLife (nyse: MET - news - people ) pre-annouced its third-quarter results, which it said will be hurt by a drop in investment income and fees due to the turmoil in the global financial markets. [More]
This is how the credit crunch will affect us - by narrowing our choice of lenders.