The catastrophic collapse in our financial system was a morality play in three acts. It reminds us why the Bible begins with the story of Adam and Eve. Act I: In order to buy a home, most American families require a mortgage. For years, mortgages were issued by a local bank and held until they were repaid. Then banks found investors wanted to buy mortgages because “securitiza (...)
Article
The Wall Street Meltdown
A Tragedy in Three Acts
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