|
In response to
"SITWAP: Yet another explanation of the credit crisis, but it's nicely done. -- (link)"
by
nubby
|
Great stuff. That last part is very compelling. Why lend to sub-prime borrowers? Because if they default, the bank gets the house and...
Posted by
Mop (aka rburriel)
Feb 21 '09, 08:34
|
the house keeps going up in value... right? Until you end up owning more houses than there are potential home buyers. It's basic economics. Makes you wonder where these people went to school.
Raul
|