Unintended Consequences
In the aftermath of the financial crisis, many commonly held beliefs have emerged to explain its cause. Conventional wisdom blames Wall Street and the mortgage industry for using low down payments, teaser rates, and other predatory tactics to seduce unsuspecting home owners into assuming mortgages they couldn''t afford. It blames average Americans for borrowing recklessly and spending too much. An...
In the aftermath of the financial crisis, many commonly held beliefs have emerged to explain its cause. Conventional wisdom blames Wall Street and the mortgage industry for using low down payments, teaser rates, and other predatory tactics to seduce unsuspecting home owners into assuming mortgages they couldn''t afford. It blames average Americans for borrowing recklessly and spending too much. An...
