subprime mortgages

Melt-Down Post-Mortem

Revisiting the “‘They-All-Did-It’ Defense”They all did it, right? That is, all the big-time U.S. commercial and investment banks got swept up in the rush to cash in the housing market boom — issuing subprime mortgages, booking origination fees, and re-selling securitized debt as fast as they could create it. Right? Wrong. It turns out that,...
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