Why companies such as mortgage loans (the country) money to people who can not afford?
For new media, There are many performances of companies like Countrywide Mortgage. Employees who write these loans have degrees and experience in the mortgage business, but go ahead and create and approve loans that can not be refunded! Can anyone explain why a company do something like that?
Because they make their money selling these bad loans in the market to cover the fund investors who have no idea fool their investments, even in the bank has bad loans, packages them along with other bad loans, and sell the package. Banks are tens of billions of dollars and when loans go bad, to lose a billion dollars, not enough to offset what they did in the first place. Then, the central bank buys these dubious newly inflated money, and banks are exempt from new. Not surprisingly, the banks can screw us over, to make money, then your screwing with us lost in the transfer back to us with inflation.
Stop deceptive lending that leads to foreclosures
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