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Then it jumped to prime mortgages as the recession and slumping stock market slashed the incomes and assets of those who really could afford to own houses.
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At times he sounds like a true radical: pledging to promote mobility in the rigid labour market, slash waste in medical care, liberalise the electricity market and shake up Japan Agriculture (JA), a vast, monopolistic network of agricultural co-operatives.By far the most important reform would be to overhaul outdated work practices.
Add to that the growing army of self-employed and part-time workers who want to work full-time for someone else, a zero-hours labour market slashing pay and security, and benefit cuts and sanctions that have driven over a million people to Britain's foodbanks – and the idea that the chancellor is delivering the warm glow of recovery for the majority is just bizarre.
An Italian banking heiress arrived eager to see some fresh-to-the-market slashed canvases by Lucio Fontana, an Argentina-born Arte Povera painter from Italy; an austere still life of bowls by the Italian painter Giorgio Morandi; and an 18th-dynasty Egyptian figure of a walking man.
Until now, party faction leaders have been among the biggest obstacles to his goals of deregulating markets, slashing politically driven public works spending and writing down the huge debts of Japanese banks.
And 9 of the 28 apartments in the building on the market have slashed their asking prices.
Yet at the beginning of 2004 Nokia, the market leader, slashed its prices, putting Siemens under increasing pressure.
Five years later, with the company's market value slashed from A$7bn£4.5bnbn) to just over $1bn, this integration will finally be imposed.
United's most recent set of full accounts showed an operating profit of £58.3m, but transfer market dealings slashed even that total.
The cuts follow a similar action by the Nasdaq stock market, which slashed about 140 jobs, or 10percentt of its work force, in June because fewer companies had been listing their shares on its market.
Many Kazakhs were alarmed when, in August, Mr Putin humiliated Kazakhstan by saying the country had no history and then mustering troops for exercises near the border.But the common market has slashed the number of bribe-hungry customs agents between China and Europe (at the Kazakh-Russian and Russian-Belarusian borders).
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com