And what’s extra, who would have even considered that an trade that makes money on curiosity paid back on loans would have to be spoon-fed that same idea? Ten years in the past few, if any, of us would have even taken that remark critically. We would have laughed on the preposterous of its audacity. And it is among the many factors that contributed to the collapse of the financial system and the true estate market throughout these previous three treacherous years. Predatory lending We’re not going to get into the moral or ethical debate about predatory lending, but at its basic core, it was based mostly on approving mortgages for people and households who simply couldn’t afford it.
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