The Beeb Tells the Subprime Mortgage Story
For a lucid presentation of the situation in US credit markets, this BBC page posted on November 21 is a good spot to browse.The story starts with a graphical comparison of the traditional approach to residential mortgage lending with the subprime/securitized approach. The BBC then goes on to showing the growth of the mortgage-backed securities market, a case study of the impact of subprime lending on Cleveland, the nationwide scope of the foreclosure crisis, the crash of home prices, the linkage of the residential real estate market to the larger US economy, the spread of credit ills to other types of lending, burgeoning bank losses, and the fallout for bondholders such as pension funds.
Labels: Business acumen
posted by Karen Nelson @ 11:49 PM
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