How Sophisticated People With Good Incomes Became Trapped in the Mortgage Meltdown.
Posted By Cliff Tuttle | May 15, 2009
Posted by Cliff Tuttle
This article in the New York Times is worth reading if you have wondered how people with the knowledge, credit and funds to avoid the subprime mortgages became ensnared by them.
Unfortunately, the author, Edmund L. Andrews, who is a NYT financial writer, tells us how he got into the mess, but doesn’t reveal a strategy for getting out. Perhaps his book, “Busted, Life Inside the Great Mortgage Meltdown”, to be published next month by W. W. Norton, will provide suggestions to others who are coping with the same problem.
CLT
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