Re:How the U.S. Saved the World from Financial Ruin
by mikestew on Monday August 06, 2018 @06:38PM
(#17702392)
I left it off, because i don't think the higher assessed risk of default than prime loans is relevant for explaining that the true cause is the fraud and purposeful misstating of actual risk.
So the already-risky loans were made more risky due to fraud and deceit on the part of loan writers. Fair enough, I have no argument with that as a major contributor, if not root cause.
So the already-risky loans were made more risky due to fraud and deceit on the part of loan writers. Fair enough, I have no argument with that as a major contributor, if not root cause.