Bad Loans Come Back To Bite You
Sub-prime loan meltdown, as the headlines say:
Some lenders to the U.S. sub-prime market, which takes in borrowers with poor credit credentials, are being battered by rising defaults and increasing demand by their own lenders to recall soured loans at a loss.
Goodness. Imagine that. If you have bad credit, they won't lend you money. Who came up with that crazy idea?
I think it's heartily unfair of anyone to blame the lenders who gave people mortgages they couldn't afford. It's all just shocking, really.
By min | March 14, 2007, 3:34 PM | Ummm... Other?