It's just f**king blows my mind how many people want to talk about the "subprime crisis" and then the follow up "credit crisis" and everything related to how all these gigantic financial institutions are falling, when they don't know ANY-F**KING-THING about it.
That's whats amazing...
I would assume that before one talks about something, they would attempt to know a little about it. Or find out enough to sound like one knows a little about it. So, first, find out what the meaning of "subprime" is... it is the basis of how this whole thing got started anyway.
However, since we are on that topic. "subprime" borrowers have existed for tens of years. They are NOT the only cause of the "subprime crisis". "Subprime Lending" is extremely lucrative to banks/lenders and, I repeat, is NOT the entire reason for this financial crisis.
I could explain it all to you, but what that would that do for you if you don't learn it yourself, right? WRONG! I could explain it to you, but believe me, someday (it may already be happening), this will be the subject of someone's MBA or PhD thesis... meaning, it is just way to long to explain and requires a lot more research than I care to do at the moment.
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