Rants, Raves, Reviews


Subprime Primer

By Gary R, in , posted: 19-Mar-2008 08:48

Are you left wondering how some greedy banks with dodgy home loans can totally root our economy forcing up the interest rates on your mortgage even though we live at the other end of the world?

Well, wonder no longer here is the Subprime Primer for everything subprime but written for the masses. The truly funny thing is that this was all legal and no one is being prosecuted. Instead the Fed is bailing out the finance companies in the US and the Brits have nationalised Northern Rock.

Sharemarkets are taking a dive, gold is going through the roof, finance companies are hitting the wall and it is estimated that 1.5 million Americans could lose their homes in the next 2 years.

subprime




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Comment by Bung, on 19-Mar-2008 09:42

This was recommended by no less a shark than David M. Richwhite as the best explanation.


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Gary R
Wellington
New Zealand


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