4 ms·
We saw what happened in 2008 when the loans went to unsophisticated, underqualified borrowers.
by throwawayboise 6y ago
We saw what happened in 2008 when the loans went to unsophisticated, underqualified borrowers.
- cerved 6y agoproblem were the lenders not borrowers
- midasuni 6y ago> unsophisticated, underqualified Like Lehman Brothers
- coldtea 6y ago2008 (or rather, the lead-in to 2008) was a different case. In that case the lenders were the ones who were the problem, and the borrowers were indeed using the money as disposable income (well, at least, to buy a home and other consumer goods on credit). Whereas today the money goes from the printers to the rich people - not the common folk.