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| Thread ID: 95800 | 2008-12-17 09:05:00 | Economics question | Ninjabear (2948) | PC World Chat |
| Post ID | Timestamp | Content | User | ||
| 730157 | 2008-12-18 04:38:00 | I like this cartoon/presentation explaining the effects of the subprime loans: (warning, contains mildly offensive language for the easily offended) docs.google.com |
dyewitness (9398) | ||
| 730158 | 2008-12-18 06:26:00 | The presentation was good. But don't forget the USA has some odd laws about lending they cannot turn anyone down nor can they ask if you have a job, are an illegal it's against the human rights of the individual to have to answer those questions. The banks have also been giving out 100% and even 110% mortgages even here so yeah they F*^^&$ up. |
gary67 (56) | ||
| 730159 | 2008-12-18 10:04:00 | US Banks have lent money, frequently because actively encouraged by Government policies, to people who were bad credit risks for the level of mortgage granted. This was coupled with borrowers having very low equity in the houses they had borrowed to buy. I believe the banks requested it a number of years ago so the Govt changed the policy and now it has all come home to roost. |
mikebartnz (21) | ||
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