Tuesday, March 11, 2008

The Subprime Lending Crisis Explained

In pictures, no less.

(H/T Denny)

Addendum, in the 'for what it's worth' department: I'm opposed to any extensions of repayment, easing of interest rates or debt forgiveness as relates to the current real estate crisis. That sort of thing makes the politicians feel better, helps the lenders out and does little to nothing for the debtors or more to the point for the nation at large. Government interference in economic corrections, which is what this is, very much tends to draw out the agony (See Stagflation and Great Depression). Far better just to get it all over with (See Savings and Loan crisis).

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