Among these policies, less stringent mortgage lending terms generated millions of subprime mortgages with a face value of several trillion dollars. Cheap money under Greenspan’s leadership at the Federal Reserve led to a bubble in housing prices, which burst in 2006. Falling house prices, rising adjustable-rate mortgages (ARMs), negative home equity and rising foreclosure rates … Continue reading Will the $800 Billion-Plus Stimulus Plan Bring Economic Recovery?
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