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Windermere Real Estate/West Sound, Inc.
Wayne Paulson | Poulsbo: 360-598-5291 | Port Ludlow: 360-437-9508 | Bainbridge Island: 206-780-1500 | wpaulson@windermere.com
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The Sub-Prime Debacle
Posted on October 22, 2008
Have you been wondering how this sub-prime mess started in the first place? A lot of people are. A few weeks ago National Public Radio broadcast a piece that provides a surprisingly entertaining and amazingly clear explanation of the progression that led to our current situation. It includes frank interviews with people in the trenches actually involved in handling the problem loans, from loan origination to sale to investment banks and reveals the "if we don't do it somebody else will" attitude that allowed it all to happen . The piece doesn't try to identify villains just explain what happened. It is about an hour long so it means an investment of some time, but you will come away with a whole new understanding of what went wrong.
Though the longer version is worth the effort, if you can't spare the time there is also a 13 minute summary version.
Though the longer version is worth the effort, if you can't spare the time there is also a 13 minute summary version.
To hear either of these pieces, click on the link below:
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