Friday 12 April 2013
Your Questions About I Can't Pay A Loan
Susan asks…Is subprime loan something new? is it invented relatively recently as a new financial product?I am asking because I wonder why there's the subprime crisis all of the sudden. I understand that the problem is that subprime loan has variable interest rates so when rates get too high, people can't pay. However, why didn't this happen before (in the entire human history, or at least in the history of modern economics - I am not aware)? (Somehow I doubt it - but, Were there new
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