Friday, Jul 13, 2007
GE bails out of sub-prime
Times Online: GE Bails out of US sub-prime market
General Electric (GE), the US conglomerate, is set to offload its sub-prime mortgage business ....
Posted by voiceofreason @ 12:33 PM (188 views) Add Comment
2 Comments
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1. lvmreader said...
The tragic thing is that somewhere, some idiot is going to pay their asking price.
Why would anyone buy this toxic waste at any price above 10cents on the dollar?
2. Orwell said...
That's ok because we don't have a Sub Prime mortgage industry over here and all the companies have been verifying financial references to ensure that only 3.75 times the avergage salary in the area has been raised as the mortgage part of any property (2.5 joint income of course).