What was the sub prime crisis

[Roshan]

Came across this article and felt like posting it for the benifit of a few. Simply laid out and makes some good reading.

rediff.com: What is subprime crisis? How it caused financial mayhem?

Regards

Roshan

 

[cansaw]

Interesting article, one person's opinion. Loan institutions are nowadays more strict and wise, to screen the potential buyer for affordability. That's why they ask for income statements and other financials.