Wednesday, July 18, 2007
In actuality, there is no difference in Prime & SubPrime
What of the optimistic (but young) investment banker who takes out 6 times his best year's salary and bonus to buy a £2m pad. He has little hope of ever paying that back - especially after his MEWing options evaporate. 7 years payments then bankruptcy and homelessness. Is he prime? Or subprime?