On the Myth that Subprimes Helped the Poor Buy Housing
In a MarketWatch story that was ostensibly about the continuing saga of the Bear Stearns hedge fund implosion comes a juicy tidbit about the composition of subprime loans. It turns out half weren’t even for housing purchases but to refinance other debt: Subprime loans are made to less credit-worthy borrowers at higher rates. It’s a […]
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