The Root Cause Of Sub-Prime Issue
Heard of these: The famous tale of a janitor in a large corporation telling one of the senior staff at pantry that she just bought a house in anticipation of selling it at higher price soon; a tell tale sign of lack of thorough credit evaluation in US You have numerous writings by shrewdest real estate investors to promote minimum- or zero-down concept to ride on of one of the longest waves of economic expansion in America since 1929, with the aim to generate serious wealth, only to be followed by (in majority) those half-baked real estate investors; this is a time-bomb Smart financiers re-packaged what seem to be, on its own merits, a low grade financial papers, into somewhat an attractive instrument called CDOs, and sold it to refinance their portfolio for greater leverage power, has helped expose many global financial players to this genuis investment-marketing breakthrough; the results need no special mention here, if you do read financial news for the past 3 months My take: The ro