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Old 09-25-2014, 03:58 AM   #2 (permalink)
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A big part of the subprime mortgage crisis was that lenders and brokers originated mortgages to customers who couldn’t afford them. In turn, the mortgages were resold to investors in the form of asset-backed securities without sufficient warning as to how risky they were. The TimesÂ*followed up the article with an even more sharply worded editorial, suggesting that similar problems are brewing for asset-backed securities backed by subprime auto loans.
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