Credit crisis diary: Try not to talk the market down, chaps

Most people react badly when their backs are to the wall, and estate agents are no exception. Henry Pryor, founder of the online agency PrimeMove, reckons that the Royal Institute of Chartered Surveyors is doing the sector a disservice with its warnings that estate agents are flogging only 11 properties a month these days. Mr Pryor says that, while business may be bad, it isn't that bad. "Either Rics members are less successful than other agents at selling houses, or they can't add up," he says.

Wise words, just a little too late

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Michael Coogan, boss of the Council of Mortgage Lenders, is doing his best to defend members reluctant to pass on interest rate cuts to borrowers. "Banks and building societies do want to support homeowners, but they have limited funds available and are, quite reasonably, taking a prudent approach to risk," he says. If only they'd thought of that a couple of years ago.

We promise to behave ourselves this year

Ping. An email entitled "Save the Christmas party" arrives. That sounds like a campaign the diary can support, but the sender, Hospitality Line – it describes itself as the UK's leading provider of corporate events – gets no prizes for altruism. And it's possibly set off on the wrong tack, if persuading managers that money on parties is well-spent is its aim. "The annual Christmas party is traditionally a time for everyone to let their hair down, party hard and 'accidentally' forget chatting up the boss's wife the next day," it argues.

Payback time

Here's one's piece of good news – we might finally be about to finish paying for the Second World War. Simon Pimblett, an analyst, points out that more than 60 years ago the Government issued undated gilts to pay for the war – they yield 3.5 per cent. With base rates at 3 per cent, this looks rather expensive so the War Stock might have to be paid off at last.

Finally speaking the same language

Breaking news from Dutch airline KLM. It has made the major decision to stop using American English in all of its communications from 1 December. Quite why it has, until now, thought there was something wrong with British English KLM doesn't relate, but the switch must have been debated long and hard with its Air France partners. It has been two years since the airlines merged and it appears to have taken until now for the French to work out they dislike the Americans marginally more than us.