CREDIT CRASH
Fed,Congress and agencies didn't regulate mortgage lending since they were "beholden" to the financial elite.
2 Comments Add this link to... Bury
2 Comments Add this link to... Bury
Credit crash is a social news site for the credit markets
He says if they hadn't acted "by two o'clock that afternoon, $5.5...
I always check credit ratings before I make a decision...
This won't tackle the lack of deals or reluctance of lenders to refinance...
At least Bernanke was clear about what they believed - even if they're...
Fed sees more risk to the downside BUT doesn't realize that there's enough...
Writedowns are MORE than $18 billion. In the release they reveal U.S....
Dont see how they were all owned by the "elites", anyway dont...
Don't worry still plenty more costs to be "exposed", fallout is...
Comments
yep borrowers do have responsibility but the point is that many worthless CDO's consist of predatory subprime mortgages,aggressively sold to consumers who didn't know better.Ever heard of borrowers being told what to put on their application? Some of those subprime mortgages were made to people that don't even exist!
Dont see how they were all owned by the "elites", anyway dont borrowers have some sort of responsibility in all this too?