How subprime mortgage fraud worked
Bob Morris @ Jan 28th 2008 00:15 - Category: Credit crisis
With a focus on Cleveland, where that city is suing 21 large banks and financial institutions for dumping subprime mortgages on the market they knew could never be repaid.
Key quote from the mayor of Clevland. “To me, this is no different than organized crime or drugs. It has the same effect as drug activity in neighborhoods. It’s a form of organized crime that happens to be legal in many respects.”
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