I have to hand it to Stephen Colbert for summing this up so succinctly:
"Apparently some billionairs gave millions of dollars in mortgages to people who couldn't afford them, and somehow it went sour."
Sunday, August 12, 2007
Colbert and Cramer on subprime mortgages
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1 comments:
Oh So true! With yet again, another interest rise in mortgages many Aussie families will be struggling. This added pressure leads to family breakdowns.... I remember when interest rates were 15%...and our mortgages so much smaller.
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