Sub-prime crisis

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Sub-prime a term quite unknown to most of the world,became a major issue in the recent times . Sub-prime loans are those which are borrowed by customers whose credit history is less satisfactory than the mandatory credit ratings accepted by financial institution around the world .But what has ruffelled the feathers is the fact that the number of home loan defaults is especially in the U.S .We all know that home loans make up for the biggest chunk of the debt market around the world .So is the U.S not different in any way . When there is a big default rate in the biggest debt category in the biggest economy it leaves a trail which is hard to brush under the carpet .It causes a domino effect whose ripples are felt all over the world . My question is whether this sub-prime which is quite alien to other parts of the world but synonomous as capitalism to the U.S should be monitored rigourously or banned completely? with regards www.chocolatesavy.com