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Biggest Ponzi Scheme in Housing Revealed
Date Posted: 2010-03-29
According to Globe News Wire, Short Sale RUSH by Marian Anthony, is a controversial book about the biggest Ponzi scheme in U.S. housing. Anothony reveals how high-risk loan products created artificial demand with unsustainable growth, targeting niche socioeconomic groups that represented untapped market share. With credit guidelines so loose, even undocumented illegal aliens qualified. Specialized portfolio funds were devised to attract these consumers and then provide mainstream capital markets with the risks. Reduced credit, income, and equity standards provided a false sense of entitlement by manipulating "stated" loans types previously designated for only the self-employed. To read more about this controversy, please go to the full article http://finance.bnet.com/bnet/news/read?GUID=12407345&l
Posted by Kelsey at 12:11:44
 
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