Thursday, March 22, 2007

Now the fingerpointing and scapegoating starts

'Abusive' loans fueled subprime debacle

I really wonder about all this in the UK - What will be said about A&L, Barclays, HBOS, HSBC, Northern Rock? The surge in subprime mortgage defaults was caused by “abusive” lending and fraud, the deputy comptroller of the U.S. Office of the Comptroller of the Currency told the Senate Banking Committee today.

Posted by lvmreader @ 08:09 PM (538 views)
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