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It looks a lot more like the housing bubble to me, with banks loaning crazy sums to NINJA borrowers. Or the recent muni bond default thing in the US where bank
by fnordfnordfnord 11y ago
It looks a lot more like the housing bubble to me, with banks loaning crazy sums to NINJA borrowers.
Or the recent muni bond default thing in the US where banks setup finance deals with unsophisticated and or corrupt local officials that they knew couldn't be paid for, and then wanted to keep the ordinary stiffs on the hook when it went sour.