2007: The subprime meltdown

Dec. 26 - After years of massive credit expansion, the debt industry snapped -- taking down major Wall Street figures and hitting corporations with initial loss estimates in the tens of billions. Investors from Wall St to Main St. were left wondering how it all happened. In the prior six years interest rates were historically low and the housing market was booming. The home mortgage industry doled out loans to subprime or more risky borrowers. Loans with loose terms like no-money down or incredibly low teaser rates. Jeanne Yurman reports.

Category:

News & Politics

Tags:

• business_GF
• subprime
• Reuters
• loans
• mortgage

[ManufactureBelief]

I listened to Robert Kiyosaki's advice on silver: "I believe this is the biggest investment anyone can make in the next 100yrs" I did my research and found an opportunity that has changed my life in 12 months. Take a look like i did.... Visit: goldsave.co/

[doubleestark]

10 months later, the market crashes and will see a low in March of 2009 and the markets will rebound but only to a lower high of 11200 in April 2010 before falling down again.

[unytcommsys]

LOL, you what most educated people would call that - Evolution. The most adaptive organism dies and the others die out!

[unytcommsys]

He used hate because scapegoating works in politics.

[unytcommsys]

He was joking.

[bluenose1006]

Yes as a broker in the UK i can agree were all shot.

[bhite41]

Bin Laden owned a stake in many of the lenders, he used spanish names like Julio vargas to run scam mortgage brokerages in Chicago called delta mortgage and e1investments ddot com

[sricharanmaddineni]

chief executive officer u dumbass

[jjblackfriday]

What do the letters C.E.O stand for?

Criminal Enterprise Organizer

[ubornthick]

seigheil,you should not have bought into the strategicaly hyped investment tranches that turned up in your pans while you were prospecting Black people if anything were the final potential victims of the biggest ponzi scheme run by whiter than white subprimesscysts in human history ,but they are walking away leaving their ninjAAA's behind them and had the last laugh on those that wanted to turn them into mortgage slaves and reposess their houses as they failed .