Read this article: subprime mortgages

[mspurrmeow]

My life is pretty solidly based in the researching the mortgage/housing crisis right now for my major research essay due in a few weeks. This is a fabulous article. Well-written, and very forthright about where the problems lie. If you have any vague interest or any opinions on the topic, I urge you to read this thoroughly. As to where this is

Comments

[jupiter9]

"For all that, "predatory lending" is a woefully inadequate explanation of the subprime turmoil. If subprime lending consisted only of lenders exploiting borrowers, after all, it would be hard to understand why so many lenders are going bankrupt. (Subprime lenders appear to have been predators in the sense that Wile E. Coyote was.) Focussing on lenders' greed misses a fundamental part of the subprime dynamic: the overambition and overconfidence of borrowers

[whipartist]

Have you heard the This American Life show on the subprime crisis? It's utterly brilliant.

[mspurrmeow]

I downloaded the transcript for the show. It was quite good. Surprisingly, it did hit some of the bigger issues. Although I liked the content, it's unfortunate that the format of it probably lost a lot of listeners before they got to the important stuff.

Thank you for reminding me about the show. the transcript was not hard to get hold of.

[whipartist]

Actually, I thought it was surprisingly gripping. They're such good storytellers that they could make anything fascinating.